BackValueFirst raises Rs70 crore from PE investors
ValueFirst raises Rs70 crore from PE investors
Premium
Bangalore: Gurgaon based enterprise communication solutions provider ValueFirst Messaging Pvt. Ltd. has raised Rs70 crore in its second round from a wholly owned subsidiary of The Headland Asian Ventures Fund 3 Ltd (HAV3), a fund advised by Headland Capital Partners Limited (formerly HSBC Private Equity (Asia) Limited) with participation from existing investor New Enterprise Associates (NEA).
With this round of funding and internal accruals it will now have over Rs100 crore to fund its inorganic expansion plans, ValueFirst said. Over the last two years, Value First has followed the path of acquisitions to fuel its inorganic growth and has acquire companies like Noida based PacketShaper, Cellnext Solutions Ltd, a subsidiary of Escorts Ltd, and SMS social network Tagg.in. It is also a strategic investor in online and mobile social network Indiarocks.com.
“Our first plan is to acquire companies to have a more aggressive foot holding not only India but overseas as well. We are looking at both domestic and global targets," said Shalini Tewari, head of marketing, Value First, on the phone.
ValueFirst is aiming to go public in 18-24 months and plans to file a DRHP by the year end.
deepti.c@livemint.com
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
