GA invests $125m in India’s Fourcee

GA will invest through a mix of fresh capital and buying out shares from existing investors. This will be the third round of funding for the company, VCCircle reported, citing at least two sources briefed on the matter.

Fourcee engages in the business of transporting non petroleum oil and lubricants such as fatty acids, crude palm oil, molasses and chemicals by rail and road.

Mayfield India Fund, a $111 million vehicle focused on investments in India-based companies, first invested $5 million in Fourcee in 2010. This round was followed by backing from India Equity Partners, a mid-market private equity firm, while Mayfield also invested last year. It was reported that the latest deal value was 3-11 times larger than the last round.

Ranjit Pandit, GA's head of investments in India, said last year that the private equity firm had been "looking at actively pushing a lot of money into India" and had considered four acquisitions worth $100 to $200 million each. The planned deals were in the internet, logistics, financial services and infrastructure sectors.

Recently, GA also led an investment of $108 million for India-focused analytics services provider Mu Sigma, in what could be the largest round of private-equity financing in the analytic-services industry.

GA manages $17 billion of capital. On average, the private equity firm invests in eight to 12 companies per year.

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• Topics
• South Asia
• Support services
• Expansion
• General Atlantic
• Infrastructure India
• India Equity Partners
• Mayfield
• India
• Growth capital