Zephyr Peacock, Credence back 20Cube Logistics

20Cube offers international transportation and contract logistics services in India, Australia, Sri Lanka, Bangladesh, Malaysia, Singapore, China, Uganda and Dubai.

The investment is Zephr's 12th in India and its first in the logistics space. Strong economic growth and a shift in global trade lanes has seen logistics activities in emerging markets like India grow rapidly, Sachin Maheshwari, director of Zephy, told LiveMint.

"We want to capitalize on this differentiating factor. We have noticed that big players are focused on the West and developed markets and are just beginning to look at emerging markets. 20Cube is already a leading firm in developing economies," he said.

Following the investment, Maheshwari and Credence managing partner Tan Chow Boon will join 20Cube's board to assist the management team in the business's development.

This the second private equity investment in the India's logisitcs sector this year. Last month, Everstone Capital invested INR2.2 billion ($41 million) in New Delhi-based Transpole Logistics. The sector has been on investors' radar for a while now. The largest PE deal in the sector last year was General Atlantic's $125 million commitment to Fourcee Infrastructure Equipments.

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• Topics
• South Asia
• Investments
• Industrials
• India
• Zephyr Peacock Management
• Logistics
• Singapore