Tata Op­por­tu­ni­ties Fund in­vests in Uber Tech­nolo­gies

The Pak Banker - - COMPANIES/BOSS -

NEW YORK: Tata Op­por­tu­ni­ties Fund (TOF), the flag­ship pri­vate eq­uity fund ad­vised by Tata Cap­i­tal, is in­vest­ing in taxi-book­ing firm Uber Tech­nolo­gies. The fund did not dis­close the size of the in­vest­ment.

TOF has a cor­pus of $600 mil­lion, of which it had al­ready com­mit­ted around $400 mil­lion across six deals. This in­vest­ment is the first in a global com­pany for TOF. The fund has made in­vest­ments in Ginger Ho­tels Ltd, Tata Sky DTH In­dia, Var­roc En­gi­neer­ing Pvt. Ltd, Shri­ram Prop­er­ties Pvt Ltd, Tata Projects Ltd and TVS Lo­gis­tics. "The Tata Op­por­tu­ni­ties Fund is de­lighted to sup­port Uber's growth and con­tin­ued suc­cess around the globe, more re­cently in China and In­dia," Pad­man­abh Sinha, man­ag­ing part­ner of TOF's ad­vi­sory team in In­dia, said in a state­ment.

The cap­i­tal raised from TOF will help Uber ex­pand its ser­vices and so­lu­tions in In­dia, the state­ment said. Uber launched in In­dia less than two years ago and has ser­vices in 18 cities in the coun­try. Uber has more than 150,000 driv­ers and been reg­is­ter­ing 40% growth on a month-on-month ba­sis, the state­ment added. "Our goal is sim­ple: re­li­able and af­ford­able trans­porta­tion at the push of a but­ton ev­ery­where, for ev­ery­one.

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