Fulcrum Venture Exits Casa Grande with 10 Times Returns

By siliconindia  |  Monday, 30 November -1, 05:30 IST

Fulcrum Venture Exits Casa Grande with 10 Times Returns

Bangalore: Venture capital firm Fulcrum Venture India has earned 10 times what it had invested in Chennai-based real estate developer Casa Grande by making its first exit from a company in its portfolio.

The company had invested Rs 5 crore in Casa Grande in 2004 for a 50% of the shares. The promoters of Casa Grande have bought back the stakes for about Rs 50 crore. This brought the investor an internal rate of return of 54.5%.

Case Grande was founded in 2004 by Arun Kumar and KR Anerudan. Kumar earlier worked Wipro Infotech in marketing and was a serial entrepreneur with ventures in the floral and medical businesses.

Valued at Rs 100 crore with current sales at Rs 94 crore, Casa Grande has developed over 1.5 million sq. ft. of land and has projects worth Rs 750 crore in the pipeline for the next two and a half years.

The VC firm was started in 2000 by Krishna Ramanathan, founder of American Remedies. It was founded as a proprietary fund and has made seven investments, investing about $1 million in each company. The firm is now focusing on sector such as education, financial services, FMCG, healthcare and niche retail. Its portfolio firms include CMYK Health Boutique Pvt. Ltd, Curatio Healthcare and SwaaS Systems.

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