DMI Finance has acquired 16% stake in Alchemist Asset Reconstruction Company. The terms of the transaction were not disclosed, however according to a report on ET, the deal size is estimated to be about R32Cr.
Alchemist ARC is in the business since 2002. It claims to have over 100 years of cumulative experience in the banking domain across international and domestic banks such as Citigroup, SBI, ICICI, Dhanalaxmi, and Bank of Tokyo- Mitsubishi.
Making its mark in India by its first investment in Dovetail way back in 1994, it has been one of the mostactive VCs in the past 7 years after merging with Mitra's earlier fund Erasmic Venture in 2008. The firm went on to raise about $60 Million that year.