Subhkam Growth Fund I, the maiden Domestic Fund from Subhkam Ventures, has invested in Chennai based Nicheken Technologies Pvt. Ltd, a company specializing in telecommunications, power electronics, electronics and training.
This is the first round of institutional growth capital money in the company founded by two technocrats, Dr. M.V. Pitke and Dr. T. Chandrasekaran. Nicheken, focuses on creating cost effective innovative add-ons to the existing equipment which have the impact of
reducing the overall cost in the eco system, either by decreasing the incremental capex requirement or by improving the efficiency.
Subhkam Ventures recently invested in IRIS Business Services Pvt Ltd, which is better known for their financial portal Myiris.com.
Rakesh S Kathotia Chairman, Subhkam Ventures said, “with the ever increasing appetite for telecom bandwidth and power and the inherent redundancy of such infrastructure equipment (due to technology upgradation), the need for cost effective add-ons, which enhance the efficiency and life of critical equipment, is immense. Such cost effective equipments could also be a great enabler in fulfilling the government’s objective of providing telecom and power in each nook and corner of India.”
The PE firm has invested in over 25 companies (both private equity and PIPES) and has exited 7 over a period of time. The focus is on mid-sized companies especially in sectors like infrastructure, telecom, healthcare, financial services, aerospace, tourism, environment, alternate energy and the like, with investment size of between $2 million and $ 10 million.
Some of its investments include Sparsh BPO Services Ltd, Aqua Logistics Ltd, Reflex Technologies Pvt. Ltd, Shakti Pumps India Ltd, Strakon India Ltd and Nagarjuna Agri Tech Ltd. among others.
The fund is also on road to raise its first third party fund and is targeting a close of Rs 100 crore by the end of this year.