VentureEast Funds Vada Pav Retailer Goli
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VentureEast Funds Vada Pav Retailer Goli
Mumbai: Mumbai-based fast food retailer, Goli Vada Pav has raised $4.7 million from VentureEast, an Indian Venture Capital and Private Equity firm. The on-the-go retailer plans to set up outlets across the country, improve managerial capabilities, and build the brand, apart from using the fund to set up training centers for its staff and also that of franchisees and also put into place an audit and MIS system. Goli Vada Pav was co-founded in 2004, by Venkatesh Iyer, who has 20 years of experience in corporate consultancy, franchising chain and retail chain models; and Shivdas Menon, having 15 years of experience in corporate finance, with an investmet of One crore--with the idea of creating an ethnic snack chain offering the staple Mumbai street food vadapav in standardized and hygienic manner at economic pricing thereby becoming an alternative to traditional fast food. VentureEast has assets of over $300 million under management, and focuses on high-growth, small and medium enterprises. It has offered financial support to over 50 projects in technology, healthcare and life sciences, and other emerging sectors.

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