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Unveiling a Special Investment Corpus for the Hospitality Sector, with Restaurant Eve in Worli as Its First Beneficiary

VCCircle

VCCircle · 1y ago

Unveiling a Special Investment Corpus for the Hospitality Sector, with Restaurant Eve in Worli as Its First Beneficiary

A consortium of investors led by Entrepreneurship Drive, founded by Addishree, has introduced a private investment corpus exclusively for the hospitality industry. The initiative begins with a $9 million investment and aims to revitalize the food and beverage sector as well as travel and tourism. The first beneficiary of this corpus is the fine dining restaurant Eve, which has already been successful in Powai and is now opening in Worli. In addition, the team is launching ImmerShiva, an immersive travel enterprise. The investment corpus is actively seeking travel tech companies and global collaborations for expansion into the Indian market.

Related News

Marriott makes first direct investment in India, picks stake in Fern Hotels operator

VCCircle

VCCircle · 2m ago

Marriott makes first direct investment in India, picks stake in Fern Hotels operator

Marriott International Inc has made its first direct investment in India by acquiring a stake in Concept Hospitality, a Mumbai-based firm managing over 120 hotels under brands like Fern Hotels, Zinc, and Beacon. This strategic move comes as India's hospitality sector is booming, with the investment valuing Concept Hospitality at approximately $100 million (Rs 843 crore). The investment marks a significant expansion of Marriott's footprint in the Indian market.

African PE firms Phatisa, Alterra acquire restaurant chain as Actis exits

VCCircle

VCCircle · 4m ago

African PE firms Phatisa, Alterra acquire restaurant chain as Actis exits

Phatisa and Alterra, African private equity firms, have acquired Java House Africa, a leading East African restaurant brand, from Actis. Phatisa, based in Mauritius, specializes in food and affordable housing investments in sub-Saharan Africa. This acquisition marks a strategic expansion in the hospitality sector for the PE firms. Java House Africa, renowned for its casual dining and coffee offerings, represents a significant investment in the region's growing restaurant industry.

The Bombay Canteen operator cooks fundraising plan, dials local PE funds

VCCircle

VCCircle · 1m ago

The Bombay Canteen operator cooks fundraising plan, dials local PE funds

Hunger Inc. Hospitality Pvt Ltd, the operator of The Bombay Canteen and O Pedro, is raising its first institutional funding round. The Mumbai-based company, supported by prominent investors, aims to secure approximately Rs 225 crore. The funds will likely be sourced from local private equity firms, as the company seeks to expand its popular restaurant brands. This move represents a significant step in Hunger Inc.'s growth and development strategy within the hospitality industry.

Aikyam Capital marks first close of maiden special situation fund

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VCCircle · 2m ago

Aikyam Capital marks first close of maiden special situation fund

Aikyam Capital Management, an Indian alternative investment firm, announced the first close of its Aikyam Capital Stressed Assets Fund I, a Category I Special Situation Fund, securing Rs 105 crore. With a target corpus of Rs 300 crore and a greenshoe option of Rs 200 crore, the fund aims for Rs 500 crore total. Founded by Nilesh and Navnit Choudhary, Aikyam focuses on distressed business investment across sectors, emphasizing operational support and restructuring.

Neo Asset hits first close of second special situations fund, sets final close target

VCCircle

VCCircle · 3m ago

Neo Asset hits first close of second special situations fund, sets final close target

Neo Asset Management, under Peak XV Partners and backed by MUFG Bank, announced the first close of its second special situations fund, having raised around 40% of its target corpus. Known for investments in special situations, performing credit, and infrastructure via different funds, the firm is progressing towards its financial goals.

Bottomline: Brookfield-backed Data InvIT boosts profit as tower sector consolidates

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VCCircle · 10m ago

Bottomline: Brookfield-backed Data InvIT boosts profit as tower sector consolidates

Data Infrastructure Trust (DIT), an infrastructure investment trust backed by Brookfield, has experienced a surge in profit as the tower sector in India consolidates amidst the expansion of 5G networks. As more individuals come online and telecom companies expand their networks, firms operating telecom towers and InvITs holding these assets are reaping significant gains. DIT, as a beneficiary of this trend, is poised to capitalize on the growing demand for telecom infrastructure in India.

Brookfield set to score blockbuster gains as India hospitality portfolio firm goes public

VCCircle

VCCircle · 1m ago

Brookfield set to score blockbuster gains as India hospitality portfolio firm goes public

Canadian investment firm Brookfield is poised for significant returns from its six-year investment in a prominent Indian luxury hotel chain as it reduces its stake. Brookfield manages a $29 billion portfolio in India, spanning real estate, infrastructure, renewable energy, and private equity. The move comes as the hotel company goes public, allowing Brookfield to capitalize on its investment, signaling a successful venture in India's hospitality sector.

Abu Dhabi wealth fund ADQ signs deal for stake in Egypt luxury hotels

VCCircle

VCCircle · 1y ago

Abu Dhabi wealth fund ADQ signs deal for stake in Egypt luxury hotels

Abu Dhabi's wealth fund ADQ has reached an agreement to acquire a 40.5% stake in ICON, the hospitality arm of Egypt's Talaat Moustafa Group (TMG). This deal will grant ADQ partial ownership of several luxury hotels in Egypt. The transaction, a capital increase carried out by ADQ and its unit ADNEC, is seen as a significant foreign direct investment in Egypt's tourism and hospitality sector. The financial details of the deal have not been disclosed.

ChrysCapital emerges as frontrunner to invest in electronics manufacturer

VCCircle

VCCircle · 4m ago

ChrysCapital emerges as frontrunner to invest in electronics manufacturer

ChrysCapital, a prominent Indian private equity firm, is reportedly in advanced talks to invest in a contract manufacturer specializing in electronics and household appliances. This move aligns with ChrysCapital's strategy as it works on accumulating a substantial investment corpus domestically. The discussions underline ChrysCapital's interest in expanding its footprint in the electronics manufacturing sector, an area seen as ripe for investment and growth opportunities.

How Biryani By Kilo’s lead PE-VC investors fared as it manages just $60 mn tag in sale

VCCircle

VCCircle · 2m ago

How Biryani By Kilo’s lead PE-VC investors fared as it manages just $60 mn tag in sale

Biryani By Kilo’s lead private equity investor faces a loss, while its venture capital backer will gain minimal returns as the quick-service restaurant chain transitions to new ownership. Operated by Sky Gate Hospitality Pvt Ltd, the chain, valued at $60 million, is being acquired, marking a financial challenge for its prominent investors.

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