Bengaluru-based Entrust Family Office Investment Advisors, an advisory firm that offers investment services to high-net-worth individuals, has invested Rs 10 crore ($1.4 million) in Sreyas Holistic Remedies Pvt. Ltd on behalf of its clients.
The investment comprises a mix of primary and secondary capital, the multi-family office said in a statement. It didn’t disclose the identity of the clients who made the investment.
Hyderabad-based Sreyas Holistic runs a chain of skin- and hair-care clinics under the Oliva brand. The company will use the funds to expand and open seven new clinics in the current financial year, said Prashant Soma, founder and chief executive of Oliva.
Founded in 2009, the company has 22 clinics across Bengaluru, Chennai, Hyderabad, Kochi and Visakhapatnam, its website shows.
In a separate deal, the family office helped its clients invest Rs 21.6 crore in logistics company Connect India E-commerce Services Pvt. Ltd.
In September, VCCircle had reported that the Bengaluru-based company, which provides a last-mile distribution network for online retailers, had raised Rs 17 crore from a few wealthy individuals.
The company counts 3ONE4 Capital, a VC fund floated by former Infosys director TV Mohandas Pai, and impact investment firm Aavishkaar Venture Management Services Pvt. Ltd as its investors.
Entrust Family Office is an investment advisory firm. It is a boutique multi-family office which provides advice on both investment and non-investment needs.