Actis invests $28 Mn in Bangalore's Vaishnavi Group

Printer Print Email Email
Vaishnavi Group, a Bangalore based company involved in residential and commercial projects, has secured $28 million fund from Actis, a UK headquartered private equity fund. This will be Actis's first investment in a real estate development company.

Founded in 1998, the group's flagship company Vaishnavi Infrastructure is currently developing a three million square feet area that includes apartments, luxury villas, residential layouts, retail and commercial properties. Apart from Bangalore, the company is also set to extend its footprint to Mysore. The group has both an in-house construction and development businesses.

Generally PE funds are not known to invest in real estate development companies, while they have exposure to construction or infrastructure companies. From that context, this is a unique deal for Actis, which has been investing in India for the past decade, and has also pioneered buyouts. Its portfolio companies include Paras Pharma, Daksh, Dalmia Cement, Glenmark Pharmaceuticals, Jyothi Laboratories, National Stock Exchange of India, Paras (an FMCG company), and Phoenix Lamps, among others.

"Game of Thrones" author George R.R. Martin doesn't want season eight to be the final chapter of "..
Wiley, a global leader in research and education has announced a series of blended learning progr..
Startup City
Youth are leading India's start-up ecosystem where the median age of founder-entrepreneurs..
US Indian
Facebook-owned photo messaging app Instagram has launched the beta version of its in-app sh..
Enterprise IT
Taking on streaming giants like Netflix and Hulu, Walt Disney Co. has announced it will laun..
The Reserve Bank of India injected a total liquidity of Rs 2.98 lakh crore in the market in 20..
The Pentagon has selected Microsoft and Amazon Web Services (AWS, the cloud computing arm ..
Facebook-owned messaging app WhatsApp is still developing its previously announced "Vacatio..
Google Pixel and OnePlus smartphones are catching up and giving stiff competition to Samsu..