UTI Venture Invests $10 Million In Shriram EPC
UTI Venture Funds has closed another investment before the year ends. The Bangalore-based fund has put in $10 million in Shriram EPC, a privately held company and part of the $3 billion Shriram Transport Finance group, reports Business Standard. Shriram EPC provides design, engineering, procurement, construction and project management services.
UTI Venture CEO Raja Kumar would be joining the board of Shriram EPC. The company had earlier received investment from ChrysCapital (Rs 30 crore) and Bessemer Venture Partners invested (Rs 100 crore).
This will be the second investment of UTI Venture in the construction and services space. In April 2006, it had led a round of Rs 120 crore investment in the Chennai-based construction services company Consolidated Construction Consortium (CCCL) along with another investor.
Related:
Bessemer Venture Partners Invests $22.2 Million In Shriram EPC For 33.33% Stake
