India's Access buys network solutions provider Teleysia
Access Asset Managers has taken a controlling interest in Indian wireless telecom consultancy Teleysia Networks.
The private equity firm did not disclose the size of the investment. The deal represents a strategic shift for Access. The GP, which was founded in 2010, has in the past targeted minority stakes in small and mid-cap companies, typically deploying $5-15 million.
"Although our past investments involved minority stakes, we backed first-generation, professionally qualified entrepreneurs in growth-stage businesses," Sangeeta Modi, managing partner at Access, told VCCircle. "This has resulted in our working actively with entrepreneurs on their growth plans and we hope to use some of our network and experience for this transaction."
Teleysia CEO Chirag Jani is expected continuing leading the company with an aim to increase market share over the next three years both nationally and overseas. The company claims its multicultural engineering team is able to operate across Asia-Pacific, Africa and the Middle East.
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