Sequoia Capital Hikes Stake in eClerx Services
Sequoia Capital India has picked up an additional 2.9% stake in 
eClerx Services Limited through open market transaction for Rs 29.7cr at Rs 539.39 per share, taking its stake in the company to 9.7%.
Sequoia has made this investment through its sub-account Nambe Investment Holdings.
In August 2009, Sequoia had bought 6.8% stake in eClerx for Rs 43cr at Rs 330 per share through the same sub-account.
Transaction Reference: VCcircle
Sequoia Capital India was formed by the merger of Sequoia Capital and WestBridge Capital Partners in 2006.
The fund has around $1.8bn under management. It has a number of investments in India including First Source Solutions and Global Logic which are in the outsourcing sector. In all, it has invested in more than 40 Indian companies
This is Sequoia's second deal in 3 days. On March 5, dealcurry had reported that Sequoia Capital would be participating in the a Series C funding in July Systems led by Intel Capital.
The VC firm may also acquire 9.4% stake in CARE for $16.15mn.
Eclerx is a KPO that provides data analytics and process outsourcing services. The company reported a net profit of Rs 21cr for quarter ending 2009.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 19/03/10 | eClerx Services - LB India Holdings Mauritius II (Exit) | Private Equity | - | |
| 05/03/10 | Burwood Ventures - eClerx Services - Sequoia Cap, Citigroup Global | Private Equity | Nambe Investment Holdings (Sequoia Capital) | 17.69 |
| 12/08/09 | Burwood Ventures - eClerx Services - Sequoia Capital India | Private Equity | Sequoia Capital India | 8.53 |
| 31/12/07 | eClerx Services - IPO | IPO / Offerings | - | |
| 30/08/07 | eClerx Services - Burwood Ventures (2) | Private Equity | 0.49 | |
| 16/07/07 | eClerx Services - LB India Holdings Mauritius II | Private Equity | 0.96 | |
| 16/03/05 | eClerx Services - Burwood Ventures (1) | Private Equity | 0.18 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 25/01/12 | M&A | IMS Health Inc | PharmARC Analytic Solutions Private Limited | - | Completed |
| 17/01/12 | M&A | Automatic Data Processing | Ma Foi Consulting Solutions Limited | - | Completed |
| 30/11/11 | M&A | WNS (Holdings) Limited | WNS Philippines Inc | - | Completed |
| 03/11/11 | M&A | SPI Group | Laserwords Private Limited | 24.00 | Completed |
Fund |
||||
| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| Nambe Investment Holdings (Sequoia Capital) | Sector Agnostic | |||
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| eClerx Services Limited | Vijay Mundhra & Family | Sonawalla Building, 1st Floor, 29 Bank Street, Fort, Mumbai-400023 Maharshtra |
Aditya Birla Minacs Worldwide Limited Quatrro BPO Solutions Private Limited Hinduja Global Solutions Limited |
www.eclerx.com |
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