Mumbai: Private equity firm Tuscan Ventures said on 4 August it has picked up a 12.45% stake in freight forwarding firm LCL Logistix for an undisclosed sum.
“This investment will fund LCL Logistix’s rapid expansion plans and further poise them to provide as well as command outstanding value to and from all its stakeholders,” Tuscan’s managing director Vishal Sharma said in a release here.
Tuscan Ventures specializes in value creation through operational excellence in supply chain, logistics and transportation infrastructure.
LCL Logistix’s core product and service offering includes tailored containerized logistics solutions to all major destinations globally. It operates warehouses in Mumbai, Nagpur, Haldia and New Delhi, the release said.