VentureEast backs Goli Vadapav – Mumbai’s on-the-go fast food ‘Vada Pav’ – retailer with a $4.7 million investment. The rumoured valuation is Rs100Cr.

Goli will set up outlets across the country, improve managerial capabilities and also for brand building.

The hope is to attempt to replicate the success enjoyed by Jubilant Foodworks – the listed player with exclusive ‘Domino’ rights for India, Nepal, Bangladesh and Sri Lanka. The Company is the market leader in the organized pizza market with a 50% market share and 70% share in the Pizza home delivery segment in India.

Venkatesh Iyer and Shivadas Menon, founders of Goli Vada Pav, set up this firm in 2004 with an investment of Rs 1Cr. Here are the figures now.

(Rs Mn)	2010	2009	2008
Sales	90.04	61.3	48.68
EBITDA	7.06	5.43	0
PAT	5.78	4.12	3.3
Share Capital	9.86	9.86	9.25
Reserves	53.64	57.8	32.55
Total Debt	0	17.7	6.65
Gross Block	0	71	46.26
Accu. Dep.	0	-4.43	-1.88
Fixed Assets	0	66.6	44.38
Inventories	0	3.34	2.07
Sundry Debtors	0	5.14	2.69
Advances	0	6.93	4.1
Cash	0.88	0.84	0.19

With the funding, Goli plans to set up training centres for its own staff and also that of franchisees and will also put in place an audit and MIS systems, said Iyer who has 20 years of experience in corporate consultancy, franchising chain and retail chain models.

With assets of over $300 million under management, VenturEast focuses on high-growth, small and medium enterprises and has offered financial support to 50 projects in technology, healthcare and life sciences and other emerging sectors. There are very few organised players in this business.

Jumbo King – the other ‘Vada Pav’ vendor - sells its own brand and has major presence in the Mumbai market. It operates 43 stores across the country and plans to open 250 stores in the current year, according to its website.

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