Indian logistics-focused private equity fund Tuscan Ventures Pvt Ltd has announced its strategic investment in Singapore based Rasmussen & Simonsen International Pte Ltd. RSI, a company offering training, consulting and people development solutions for global shipping and logistics industry. Tuscan Ventures will invest an undisclosed sum to receive 40% shareholding in the company, a statement from the private equity fund said. The investment will help the company embark on global expansion, including setting up dedicated offices in India and other key growth areas such as China and the Middle East.
Tuscan Ventures had last month picked up a 12.45 per cent stake for an undisclosed amount in Mumbai-based LCL Logistix Pvt. Ltd. This was its first investment after it set up shop in September last year. The fund, which has offices in Mumbai and Singapore, is currently investing out of a $50 million corpus it has raised from domestic investors.
Vishal Sharma, Managing Director, Tuscan Ventures, said: “The global shipping and logistics industry will need to recruit and train 500,000 professionals, by a conservative count, over the next decade. As the industry shifts its focus from manual i.e. low cost to technology i.e. solutions, a well-trained work force will emerge as the true competitive advantage.”
RSI’s product offering includes customised and off-the-shelf instructor-led training programs as well as e-learning modules developed specifically for the industry. The company specialises in industry fundamentals and customer service, customer implementation, sales and business development, key account development and negotiation skills training for the global shipping and logistics sectors. RSI’s customers include the world’s top shipping lines, freight forwarders, 3PL service providers and port operators.
RSI also operates www.shippingworkz.com and , industry specific knowledge, networking and opportunity portals developed for the maritime shipping and logistics industries.
Tuscan Ventures Pvt. Ltd focuses on supply chain, logistics and transportation infrastructure. The fund is set up by ex-industry professionals with over 40 years of combined in-house experience in the global maritime and logistics sector including container shipping, ports, supply chain management, vessel operation and management.