The newly formed has picked up a 12.45 per cent stake for an undisclosed amount in Mumbai-based . This will the first investment of Tuscan Ventures, which is logistics sector focused investment company. LCL Logistix’s core product and service offering includes tailored containerised logistics solutions to all major destinations globally.
Tuscan Ventures was set up in September 2007 and has offices in Mumbai and Singapore.
The firm is currently investing out of a $50 million corpus it has raised from domestic investors. The managing director and founder of Tuscan Ventures is Vishal Sharma, who was previously heading Maersk Line business in India. Other founders of the firm are Shagun Gogia, former vice president at ICICI Ventures and Brian Rogove, formerly managing director of US-based start-up Coherix. “We are a sector focused logistics fund. Our team is primarily from the industry, mostly ex Maersk employees. We will invest across the value chain,” Vishal Sharma told VC Circle.
“We are building operating businesses within the logistics supply and transportation infrastructure space. We are also making investments that are synergistic to our portfolio of operating business,” he added. Besides private equity investments the firm also offers port advisory services. “We are currently advising Dharamtar port in Maharashtra, which is a bulk port, by helping them with their container operations and how to trans form themselves into a container hub,” said Sharma.Tuscan Ventures will also offer advisory services to MNCs seeking mergers and acquisitions in the in the industry.
LCL Logistix operates multiple warehouses at Mumbai, Nagpur and Haldia and New Delhi. LCL Logistix has also recently opened up a 80,000 sq meter container freight station (CFS) in Pipavav shipyard and operates a Central Warehousing Corporation owned CFS at Adalaj, Ahmedabad. It plans to open up two additional CFSs in the country.
“We are excited about the opportunities that lie ahead of us and I am confident that Tuscan’s hands-on approach, operating expertise and deep industry relations will be of significant value to LCL Logistix,” said Unni Nair, Managing Director, LCL Logistix.