VCCircle

Private equity firm UTI Venture Fund and a Middle East investor have together invested about Rs 120 crore in the Chennai-based construction services company, Consolidated Construction Consortium (CCCL). It's a combination of fresh equity and picking up of a minority stake of the promoters.

The Rs 400-crore CCCL was launched about a decade ago by a group of professionals associated earlier with Larsen & Toubro. It has offices in Chennai, Bangalore, Hyderabad and Delhi, and recently set up an office in the Middle East. “Its an unique construction services company and we see a good growth opportunity. It may well be another L&T in the making,” KEC Raja Kumar, CEO & MD, UTI Venture Funds, said. [Via The Economic Times]