Mumbai: Motilal Oswal Ventures Capital Advisors on Tuesday said its $125 million private equity fund -India Business Excellence Fund- plans to invest in 10-12 companies by this year-end.
“We are close to sealing a few transactions within the next few weeks,” a Motilal Oswal Venture Capital Advisors Pvt Ltd official told PTI here.
The company was already evaluating various companies in which to pump in investment and “by end-this year, we hope to complete investments in about a dozen companies,” the official said.
The 125-million-dollar growth stage fund which achieved its final closing in December last, invests across sectors except in retail and real estate.
“We are sector-agnostic and typically invest in the range of 5-15 million dollars and primarily in unlisted companies,” he said.
The company has so far invested in four companies-- Time Technoplast (before it went public), Effort BPO, RT Outsourcing and IMP Powers.
“Of this, IMP Powers is a listed company, but we invested here because we found it a great turn-around story and had a good track-record,” he said.
The fund has now invested in Rajasthan-based non-banking finance company, AU Financiers (India), which provides finance to rural and semi-urban areas in the state.
“Our investment in AU Financiers is in the form of equity-linked instrument--at a later stage, it will get converted into equity shares,” the official said, without disclosing the amount invested.
The investment would help AU Financiers shore up its net worth and increase its loan portfolio, besides helping it enhance its network.
AU Financiers has taken a 51 per cent stake in Index Money Ltd, while the fund-based business will be carried out by AU Financiers, the non-fund business intermediation and distribution activities will be carried out by Index Money.
The NBFC presently has a network of more than 50 offices, 200 associates and 250 employees in Rajasthan and is building up a similar penetration in Maharashtra now, the official said.
It is a significant player with a substantial market share in 3-wheeler commercial vehicles and utility vehicles financing in Rajasthan,he added.