Brewer & gastropub The White Owl raises funding from Amit Patni
RAAY Global, a family office of Amit Patni, has invested in The White Owl Brewery, a Mumbai-based craft beer maker that also runs its own gastropub in the city, as per a disclosure on its website.
Run by White Owl Brewery Pvt Ltd, the firm was co-founded by Javed Murad (Harvard Business School grad who has previously worked at consulting firm Analysis Group and advisory and asset management firm Perella Weinberg Partners) and Kunjan Chikhlikar (Wharton Business School grad has previously worked at several PE firms) in 2011. It set up its first gastropub that is located at Lower Parel in Mumbai a little over two years ago.
RAAY Global spokesperson confirmed the investment without sharing details on how much it has put in The White Owl, which especially pushes itself as a craft beer maker.
The Economic Times that first reported the development said the company has raised Rs 10 crore from Patni and other unnamed investors.
It added that the firm will use the capital to expand supply of its craft beer products to third-party restaurants and bars in Mumbai and eventually through traditional retail channels across India.
Amit, son of Gajendra Patni—one of the four Patni brothers who sold Patni Computers to IGATE—has been active in tech startup investments in India along with his brother Arihant. This is one of a few non-tech seed investments for the Patni scion apart from pharmacy chain Wellness Forever.
Recently, another craft beer maker Cerana Beverages Pvt Ltd closed its bridge round of funding from existing investors besides a new foreign investor ahead of a planned $10 million funding in its Series A round.
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RAAY Global Investments Pvt. Ltd. is an asset management and capital preservation company and provides advisory services for various investments avenues. Its services include investment management, advisory services, estate planning, insurance planning, concierge services, hedge fund investing, mentoring closely held business, integrated succession planning, real estate advisory, private equity opportunities, angel investing and social impact investing. The firm is also a seed investor. The company was founded in 2002 and is based in Mumbai, Maharashtra.