New Silk Route (NSR), a leading growth capital firm with $1.4 billion assets under management focussed on India, South Asia, Middle East and other emerging economies of Asia, has made an investment of Rs 360 Crores in Coffee Day Resorts, promoted by VG Siddhartha.
VG Siddhartha, chairman, Coffee Day Resorts Ltd, said, “this investment will be used across the various current and future business of the group, Cafe Coffee Day, Luxury resorts, and infrastructure.”
Parag Saxena, founding general partner and chief executive officer, NSR, will join the board of Coffee Day Resorts. Saxena said, in a statement, “underpinning Coffee Day Group’s growth will be the flagship Café Coffee Day business, one of the fastest growing organizations in the café chain industry in India and the largest in Asia. We look forward to assisting Coffee Day in its next phase of growth and expansion plans.”
Saxena was the first round investor in Starbucks Coffee Company and brings with him, the rich and valuable experience of being a part of the 100-fold growth story of Starbucks.