Inga Ventures (Inga), in partnership with TIH Limited (TIH), Singapore, is launching a ₹ 1,250 mn private equity fund “Ekkum TIH Emerging Opportunities Fund” for investing in mid-size enterprises in India. The Fund has received commitment of ₹ 250 mn from the sponsors and their affiliates.
The Fund will infuse growth capital in mid-size emerging companies operating in niche segment with strong track record. The Fund will aim to target companies with a clear expansion and value creation plan. The initial size of the fund is targeted at ₹ 1,250 mn and the overall target is ₹ 5 bn.
The Fund will follow a sector agnostic approach with positive bias towards Specialty Chemicals, FMCG, Electronics, Food & Agriculture and Healthcare/Pharma.
Commenting on the launch, G. S. Ganesh, founder of INGA, expressed confidence in establishing a strong and sound platform for nurturing success stories. He added that with solid experience in dealing with emotions of founders, the fund will tap the best in industries and partner them in their growth journey. He further commented that the partnership with TIH brings the best combination of the strong network and long term relationship of Inga and long standing investment experience of TIH. The strength of Inga is a collective experience of over 100 years comprising its founders and key management personnel.
Commenting on the partnership, Allen Wang from TIH said, “We are delighted to partner with Inga, a premier and veteran corporate finance/investment banking firm in India with mid-cap segment focus. Their wide reach across the country presents great investment opportunities for us in the middle market space in corporate India. We are confident that the partnership will help both parties to expand our opportunities in a quickly expanding Indian economy – from both a direct investment and cross-board perspective.”
Inga has emerged as a boutique relationship investment banker (IB) with a two decades of successful track record of nurturing family enterprises to a strong listed company or navigate its exit through M&As. In all these, Inga has displayed the key traits of managing the family aspirations vis-a-vis their hesitancy to cede control.
With this background and strong emphasis on family grown SME business Inga Ventures has stepped in to the next and logical phase of promoting a PE fund which will invest in such opportunities.