Funds managed and/or advised by Motilal OswalPrivate Equity commits INR 2,500 million in VVDN TechnologiesPrivate Limited
Gurugram 25 December 2019: India Business Excellence Fund – III, a fundmanaged and/or advised by MOPE Investment Advisors Private Limited (“MOPE”),have committed INR 2,500 million to VVDN Technologies Private Limited (“VVDN”/the“Company”), a Gurugram based company engaged in the business of ProductEngineering and Electronics Product Manufacturing.
Established in 2007 by Bhupender Saharan, PuneetAgarwal, Vivek Bansal and Murali Jayaraman, the Company is an integratedproduct design and ODM (Original Design Manufacturing) service provider withthe ability to convert an idea / concept to final electronic product. Thecompany has a large customer base including leading global semi-conductorcompanies and large to mid-sized OEMs across multiple areas like 5G andDatacenter, Networking, Camera and Vision Automotive, IoT (Internet of Things),Cloud and Applications etc. It has aglobal sales footprint across USA, Europe, Korea, Japan and India with 9design/delivery centers employing 2,000+ engineers, and 4 manufacturingfacilities to service its customers. VVDN is one of the fastest growing ODM outof India which is innovating for the next era using technologies such as 5G, AI,ML, Big Data, Analytics, etc. Company has grown ~8x in revenues in a shortspan of four years (i.e. from FY15 to FY19)
Bhupender Saharan, Co-founderand CEO said, “Partneringwith MOPE will accelerate VVDN’s growth plans and help the company in scaling thebusiness. Their experience of investing in electronics manufacturing andorganizational development in their portfolio companies will add a lot of valueto our Company. We also expect MOPE to contribute meaningfully with its expertiseof taking companies public. The funds would be utilized for acquisitions, expansionof manufacturing facility, engineering development labs and demo rooms whichwill help us serve our customers better, improve our capabilities and createvalue for all the stakeholders of the Company. JMFinancial Services acted as a financial advisorto VVDN for the deal.”
Vishal Tulsyan, Managing Director and CEO of MOPEcommented, “Ourexperience of investing in electronics product manufacturing space in India hasbeen quite good. What we liked about VVDN is not just their strong focus onelectronics manufacturing but one step behind which encompasses the wholeproduct design and engineering from ideation to productization, adding a lot ofvalue to its customers. We are excited about the market opportunity for VVDN’ssolution and remain confident on the team’s capabilities to scale the business.Through this partnership with VVDN Technologies, we intend to create a leaderof global scale in product engineering and manufacturing of differentiatednew-age technology products.”
About Motilal Oswal Private Equity
MOPE Investment Advisors PrivateLimited (MOPE) is a subsidiary of Motilal Oswal Financial Services Limited(MOFSL), a diversified financial services group with businesses in Securities,Asset Management, Private Equity and Investment Banking. MOPE is currentlymanaging three growth capital funds i.e. India Business Excellence Fund (IBEF),India Business Excellence Fund II (IBEF II) and India Business Excellence FundIII (IBEF III) focused on providing growth capital to mid-market companies,typically in the range of INR 100 – 300 Crore, across sectors. IBEF, launchedin 2007 is an INR 550 Crore (US$ 115 million) fund and is fully invested inthirteen portfolio companies across sectors such as food processing, bulkpackaging, power transformers and power infra enablers, ITES, financialservices, EMS, FMCG, auto components, etc. Out of the thirteen investments ithas already made twelve exits. IBEF II, launched in 2012 is an INR 1,000 Crore(US$ 155 million) and is fully invested in eleven portfolio companies acrosssectors such as financial services, life sciences, niche manufacturing andconsumption based sectors. On the back of its success of IBEF and IBEF II, MOPErecently raised INR 2,300 Crore (US$ 325 million) for IBEF III. Currently,investments are being made through IBEF III.
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