Growth equity investor Summit Partners today has established a new office in Mumbai. Summit is opening the office to increase investment activity in India and to support its North American and European-based portfolio companies with their expansion efforts the region.
The office is being managed by Amit Chaturvedy, Director-India, and joining him are Associates Gaurav Prakash and Miloni Shah. Summit Partners will apply the same investment strategy that Summit Partners has successfully executed since 1984—to focus on high-growth businesses run by strong management teams.
“As growth equity investors with a 28-year track record, we see a significant opportunity in the Indian market. India’s strong entrepreneurial tradition, combined with a fast-growing economy, means there are many companies that can benefit from Summit’s capital investment, strategic advice and industry expertise,” says Scott Collins, Managing Director-International Equity, who oversees Summit Partners’ investment efforts in Europe and Asia. “Summit brings a wealth of experience in helping companies grow nationally and internationally, which is of great value to Indian entrepreneurs with global aspirations.”
In 2010, Summit Partners invested in Krishidhan Seeds Limited, one of India’s leading seed companies. In addition, a number of Summit’s portfolio companies have a major presence in India, including Belkin International, Continuum, McAfee, Multifonds, Ogone, Snap Fitness and Winshuttle Holdings.
Summit Partners intends to make investments in the range of USD10 million to USD100 million per company. Chaturvedy says: “We seek to partner with Indian entrepreneurs who have navigated their businesses to a leadership position by identifying a market opportunity and implementing an innovative business model or technology to create a sustainable competitive advantage. When a company meets our investment criteria, we are very flexible in creating a transaction structure that results in a win-win situation for all.”
