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Exclusive: Biryani Blues raises bridge round from existing investor

Gurgaon-based Thea Kitchen Pvt. Ltd, which runs quick service restaurant (QSR) brand Biryani Blues, has raised fresh capital in a bridge round from one of its existing investors, a top company executive told News Corp VCCircle. Raymond Andrews, director, Thea Kitchen, said the funds will be used mainly for expansion. “We are planning to launch 17 more outlets in Delhi-NCR till March 2018,” said Andrews. The company currently operates 13 units. Biryani Blues has also decided to raise growth capital from other sources. “We may also raise money as debt funding going ahead,” Andrews said. However, he didn’t divulge more...

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Carpediem Capital Partners Fund I is a $91 million private equity fund managed by Carpediem Capital Partners, with a green shoe option of additional $36 million. It provides growth capital to companies operating in India. The firm seeks to invest in consumer products and services, healthcare, consumer finance services, logistics, managed services and education sectors. It typically invests between $2 million to $8 million in its portfolio companies.

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