The Hindu Business Line : TVS group sets up private equity fund to focus on mid-cap, family-owned companies

Corporate - Venture Capital
Money & Banking - Financial Services
TVS group sets up private equity fund to focus on mid-cap, family-owned companies

Our Bureau

Chennai, Sept. 19 The TVS Group has set up TVS Capital Funds Ltd, which will make late-stage investments in private companies and in mid-cap, family-owned businesses across sectors in India. TVS Capital Funds Ltd, an asset management company, starts its activities with an office in Chennai.

“Indian entrepreneurs need a strategic growth partner that understands the nuances of building businesses and can offer a range of professional services along the expansion path. TVS Capital Funds Ltd will strive to be this strategic partner to entrepreneurs and fund their development,” says Mr Gopal Srinivasan, Founder of TVS Capital Funds Ltd.

“India has thousands of mid-cap, family owned businesses, especially in Tier 2 and 3 cities, that are anxiously looking to participate in the broader expansion of Indian economy. These businesses are looking for a strategic partner to expand business beyond their existing roots, professionalise their operations and enhance their management team. TVS Capital Funds Ltd will bring a proven business culture, infrastructure, and a wide network of relationships across several sectors and geographical regions including the US, Europe, China and Taiwan, to help manage and grow family-owned businesses,” Mr Gopal Srinivasan has said in a press release.

TVS Capital Funds Ltd has hired Mr Suresh Raju, as General Partner, from Deutsche Bank’s technology investment banking practice in Boston, US, to help launch the activities of this new firm.

Speaking to Business Line about TVS Capital, Mr Raju said that the corpus of the fund that the company would set up would come from moneys raised from the market. The size of the corpus has not been determined as yet, he said.

Asked about the size of investments that would be made out of the funds, Mr Raju said that TVS Capital did not target any ticket size. He, however, underlined that TVS Capital would not be an angel investor or a provider of seed capital. It would invest in the late-stage, in growing companies. As such the average size of the investments would be higher than what an angel investor would make, he said.

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