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Headland, NEA in ValueFirst financing round

  • Anita Davis
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Headland Capital Partners Limited (Headland), formerly known as HSBC Private Equity (Asia) Limited, has committed INR 70 crore ($15.4 million) to Indian mobile messaging and communication firm ValueFirst Messaging Pvt. Ltd., with current investor New Enterprise Associates (NEA) also injecting money as part of the fundraising round.

According to a statement, the company will use the capital for growth via acquisitions, which will also allow it to enter other like-sectors such as application programming, mobile media and digital commerce. In total, it will have INR100 crore ($22 million) to allocate for expansion, ahead of an intended IPO within 18-24 months. According to the company, ValueFirst works with more than 800 global operators through international SMS hubs. Established 2003, ValueFirst is headquartered in Gurgaon, with regional offices in Mumbai, Chennai and Kolkata, and sales offices in Bangalore and Hyderabad. Its global footprint includes a presence in Barbados, Bhutan, Lebanon, Middle East, Nigeria and Pakistan.

NEA first invested in the company in 2006, and Emergic Ventures has also contributed capital in the past. In December, Headland also invested INR400 million ($8.86 million) in a second round of financing into Microqual Techno Ltd., an Indian telecom infrastructure provider.

 

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