Vis­taar Gets .` 160 cr in Fresh Fund­ing

Ex­ist­ing pri­vate eq­uity in­vestors, led by West­Bridge , took part in lat­est round of cap­i­tal in­fu­sion

The Economic Times - - Companies - MAD­HAV CHAN­CHANI

West­Bridge Cap­i­tal, which typ­i­cally in­vests in listed com­pa­nies, is leading a .` 160-crore in­vest­ment in Ban­ga­lore-based non-bank­ing fi­nance com­pany (NBFC) Vis­taar Fi­nance. Ex­ist­ing pri­vate eq­uity in­vestors El­e­var Eq­uity, Omid­yar Net­work and Saama Cap­i­tal have also par­tic­i­pated in this round of fund­ing. ET was the first to re­port that West­Bridge Cap­i­tal will lead a new round of fund­ing in Vis­taar Fi­nance, last week. EY was ad­vi­sor to the deal. Vis­taar Fi­nance lends to mi­cro, small & medium en­ter­prises (MSMEs), which are pri­mar­ily not funded by banks. The four-year-old NBFC's loan size ranges from .` 35,000 to .` 25 lakh. With this in­vest­ment, the team at West­Bridge Cap­i­tal will look to recre­ate its past suc­cess from bets it took on fi­nan­cial ser­vices com­pa­nies such as mi­cro­fi­nance player SKS Mi­cro­fi­nance and gold loan re­tailer Manap­pu­ram Fi­nance. The team that carved out of Se­quoia Cap­i­tal In­dia in 2011 made more than 5 times on its com­plete exit from Manap­pu­ram, and around 15 times from its par­tial exit dur­ing the SKS Mi­cro­fi­nance pub­lic of­fer. “We have been very im­pressed with the size of the mar­ket op­por­tu­nity, and the qual­ity and vi­sion of the pro­mot­ers of Vis­taar,” said Su­mir Chadha, founder and MD, West­Bridge Cap­i­tal US Ad­vi­sors.

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