ValueQuest Investment Advisors’ Tristar Fund has committed Rs 300 crore ($31.9 million) to Chennai-based Trusted Aerospace & Engineering (TASE Global), a precision engineering and manufacturing platform that supplies global original equipment manufacturers (OEMs) and tier-I suppliers.
The investment will support TASE Global’s next phase of growth, including capacity expansion, integration of its US operations and efforts to secure larger OEM programmes, said Shankar Raman Vaidyanathan, founder, chairman and chief executive of the company.
Aniket Dharamshi, co-founder and managing partner at ValueQuest, said his firm sees an opportunity for Indian precision engineering companies to move beyond component supply and become integrated manufacturing partners as global supply chains evolve.
The investment marks the fourth addition to Tristar Fund’s portfolio. The fund has secured more than Rs 2,100 crore in commitments within 15 months of its first close, and is looking to build a concentrated portfolio of companies with differentiated manufacturing capabilities.
Spark Capital acted as the exclusive financial adviser to TASE Global on the transaction.
TASE Global serves customers across aerospace, defence, medical and analytical instrumentation, and industrial applications. Its customer base includes Roche, PerkinElmer, Honeywell, Collins Aerospace, GE and Eaton. It operates manufacturing facilities across India and the US, offering high-precision machining, complex component manufacturing, sheet-metal fabrication, specialised processes and precision assemblies.
Founded in 2010, ValueQuest is a Mumbai-based investment management firm with assets under management of approximately Rs 32,304 crore. Its private equity funds, housed under Quest4Value Investment Managers LLP, manage more than Rs 6,500 crore.
