Aavishkaar Partially Exits Servals Automation, Shree Kamdhenu
Aavishkaar Venture has partially sold stake in two portfolio companies, 
Servals Automation and Shree Kamdhenu Electronics, to the US-based Grass Roots Business Fund.
Aavishkaar had invested $0.018mn in Servals Automation for 49% stake in 2002 and $0.04mn in Shree Kamdhenu for 26% stake in 2003.
It sold over 15% stake in Serval Automation, a company that assembles and distributes an energy efficient burner and water-conserving rain gun irrigation product and 2.6% stake in Shree Kamdhenu, a dairy automation firm.
Grass Roots Business Fund projects that the new funding will enable greater support towards empowerment of the rural poor and the development of their livelihoods.
Transaction Reference: TOI
Aavishkaar is a venture capital fund that provides finance to the companies in cleantech, education, agro, healthcare, technology and micro-finance.
It expects IRR of 32% and will invest in any company not more than 20% of its fund with the available exit options of trade sale, promoter buyback, and merger and acquisition.
It recently, sold half of its stake in Equitas to Canaan Partners. These exits together gave eightfold returns to it i.e returns of Rs 26 Cr on the initial investment of Rs 3.2 Cr.
Aavishkaar’s portfolio includes investments in Tide Technocrats, Serval Automation, Waterlife, Saraplast, Zameen Organic within cleantech space, Share Microfin, Grameen Koota, Equitas, Suryoday Microfinance & BSFL within MFI space, Swas Healthcare & Vaatsalya Healtcare in healthcare space and others include Net System Informatics, Craftsbridge India, C K Technologies, Vortex Engineering & Rangasutra Crafts.
Grass Root Business Fund, an investor in high-impact enterprise has investments across Africa and Latin America, has also invested in Indian firm, LabourNet, which helps customers meet the need for blue-collar workers.
Venture capital funds are looking for exits in this year due to end of its life and early investors want to cash out. There is 27 exits seen in first half of 2010 as compared to 13 exits in corresponding period last year.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 26/08/10 | Servals Automation - Aavishkaar (Partial Exit) | Venture Capital | Grassroots Business Fund | - |
| 31/12/02 | Servals Automation - Aavishkaar | Venture Capital | Aavishkaar India Micro Venture Capital Fund | 0.02 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 06/02/12 | M&A | Looking For | Wind Power Business | - | Planned |
| 01/02/12 | Private Equity | Looking For | Trishe Energy Private Limited | - | Planned |
| 31/01/12 | M&A | Gussing Renewable Energy GmbH | G P Green Energy Systems Private Limited | - | Completed |
| 27/01/12 | Private Equity | Zephyr Peacock India | Flareum Solar Technologies Private Limited (Formerly Gadhia Solar Energy Systems Private Limited) | 10.04 | Completed |
Fund |
||||
| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| Aavishkaar India Micro Venture Capital Fund | 14 | Cleantech Education Agro/FoodStuff Healthcare IT/ITES/Technology |
www.aavishkaar.in | Vijay RajagopalNilesh MehtaJohn Arun Kumar DiazHrishikesh DesaiChandini HundalaniPriyank JainVijay RajagopalRajeswari GopinathClare BolandMadhukar SinhaPravin Gandhi |
| Grassroots Business Fund | Auto Basic Industries Telecom |
http://www.gbfund.org/?q=investment-criteria | Puneet JhajhariaShiva Shankar | |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Servals Automation Private Limited | P Mukundan | 5/1 Balaji Nagar Istreet, Ekkattu Thangal, Chennai - 600097, Tamil Nadu. | ||
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