SEAF backs Indian fast food chain

Financial details of the transaction were not disclosed.

Founded by chartered accountant Anuruddha Guha Roy in 2008, the business opened its first Only Alibaba restaurant - which specializes in biriyani, a Indian rice dish - in Central Kolkata and has since expanded to 22 outlets.

Under its Baked & Fried brand - of which there are three outlets - the company serves burgers, fries, fried chicken and sandwiches. According to VC Circle, the firm will use the investment to expand both chains both within and outside Kolkata.

"With these two formats, the company is one of the fastest growing restaurant chains in eastern India," said Hemendra Mathur, managing director of SEAF.

SEAF India Agribusiness Fund is managed by Small Enterprise Assisted Funds. The fund, which was launched in 2010 to invest in small and medium-sized enterprises, has a corpus of $40 million and an average ticket size of $2-5 million. Other portfolio investments include Abhay Cotex and Tropilite Foods.

IndusAdvisors acted as the sole financial advisor to Guha Roy for the transaction.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Consumer
• Expansion
• South Asia
• Consumer
• India
• Growth capital