Mid-market private equity firm Jashvik Capital said Wednesday it is investing over Rs 400 crore ($45.7 million) in Marg ERP Ltd, a provider of enterprise resource planning and inventory management software for small and medium enterprises.
The investment aims to accelerate Marg ERP’s product innovation, enhance customer focus, and drive expansion across both domestic and international markets, Jashvik said in a statement. Jashvik will also support Marg ERP’s plans to scale further through organic and inorganic strategies, the PE firm said.
Marg ERP has over 500,000 subscribers across the healthcare, FMCG and retail industries in India and 32 countries, it said.
"We also plan to deepen our footprint in international markets through our recently launched cloud-based accounting and ERP product – Marg Book,” said Anup Singh Thakur, Chairman and Managing Director of Marg ERP.
Naresh Patwari, founder and managing partner at Jashvik Capital, said: “We are particularly impressed with how Marg is enabling pharmaceutical companies through its ECOD platform, as well as its AI-enabled ordering and payment solutions for retailers and distributors.”
In 2021, API Holdings, which operates brands such as PharmEasy and Thyrocare, had acquired Marg ERP. However, the founders of Marg ERP have bought back a 49% stake in the company from API Holdings, the company said Wednesday.
Jashvik Capital, which was founded by former TA Associates executive Naresh Patwari, is a sector-agnostic PE firm which is raising $350 million for its maiden fund. Its limited partners include the government-backed Self-Reliant Fund (SRI Fund).
The PE firm invests in healthcare, consumer, and technology sectors. This is its fourth investment from its first fund. Prior to this, Jashvik invested in Bengaluru-based medical products seller Futura Surgicare Pvt. Ltd in its maiden healthcare PE deal. It invested around Rs 210 crore in the company. It also acquired a majority stake in insecticide maker Midas Hygiene earlier this year.
