Bangalore-based early stage investment firm Aspada, which is backed by US-based Soros Economic Development Fund, is investing Rs 10 crore ($1.6 million) in Gurgaon-based supply chain services firm ThinkLink Supply Chain Services, as per a statement.
ThinkLink provides turnkey project management, design, skill development and staffing services in India’s logistics and supply chain sector. It will utilise the fund to strengthen its professional development, vocational skills and staffing division ThinkLink Learning.
“Supply chains across a number of sectors in India are becoming more complex and sophisticated due to the scale of operations and the entry of larger and more organised players in the market. Increased sophistication can be seen across verticals such as automotive, pharmaceuticals, food & beverage, agriculture, retail, e-commerce and basic utilities, providing significant business opportunities for ThinkLink,” said Saurabh Goyal, CEO of ThinkLink Supply Chain Services.
“Aspada’s investment will help ThinkLink to scale its mission of creating new and sustainable employment pathways for blue collar and entry level employees in a sector that is critical for sustaining India’s economic development,” Aspada Investment Company’s board member and Vice President of the Soros Economic Development Fund, Fawzia Naqvi, said in the statement.
Aspada Investment, led by by Kartik Srivatsa and Thomas Hyland, provides early-stage risk capital to businesses that help expand market access, improve livelihood and create large-scale employment opportunities in underserved communities. It makes both equity and debt-like self-liquidating investments and backs agricultural supply chain companies in an effort to support small farmers. Its target sectors include healthcare delivery, agricultural supply chains, education, logistics, and financial services.
Aspada announced its first investment last April in an end-to-end fresh vegetable supply chain firm Lawrencedale Agri Processing, which operates in the Nilgiri belt in southern India.
In April, Aspada Investment also raised $10 million from US-based Soros Economic Development Fund (SEDF).
Earlier, SEDF had created $17 million SONG Fund, along with Omidyar Network, Google and Indian School of Business. Aspada also advises the portfolio of SONG Fund. Leave Your Comment