Summit Partners Opens India Office

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Mumbai: With a motive to increase investment activity in India and to support its North American and European based portfolio companies with their expansion efforts, Summit Partners have established a new office in Mumbai.

Amit Chaturvedy, Director-India, will be managing the operations of the firm in India. Joining him are Associates Gaurav Prakash and Miloni Shah. The firm will apply the same investment strategies that it has successfully executed since its formation in 1984, to focus on high-growth businesses run by strong management teams.

The firm has raised more than $14 billion in capital since its establishment and provides equity and credit for growth, recapitalizations and management buyouts. Summit has invested in more than 340 companies across industries.

Scott Collins, Managing Director-International Equity, says, “As growth equity investors with a 28-year track record, we see a significant opportunity in the Indian market. India’s strong entrepreneurial tradition, combined with a fast-growing economy, means there are many companies that can benefit from our capital investment, strategic advice and industry expertise. Summit brings a wealth of experience in helping companies grow nationally and internationally, which is of great value to Indian entrepreneurs with global aspirations.” Collins oversees Summit Partners’ investment efforts in Europe and Asia.

The firm intends to make investments in the range of 50 crore ($10 million) to 500 crore ($100 million) per company. Chaturvedy says, “We seek to partner with Indian entrepreneurs who have navigated their businesses to a leadership position by identifying a market opportunity and implementing an innovative business model our investment criteria, we are very flexible in creating a transaction structure that results in a win-win situation for all.”

Chaturvedy joined Summit Partners in 2008. Prior to this, he worked in a variety of roles in finance, marketing, R&D and operations at Kildare Enterprises, Citigroup Corporate & Investment Bank and Cummins in the US, and in production management at Britannia Industries in India. His board directorship and investments in Summit Partners include FleetCor Technologies and Krishidhan Seeds. He has received a B.Tech from IIT, Mumbai, an MS from Purdue University and MBA from Harvard Business School.