Helion Venture, Footprint Invest In QSR - Mast Kalandar
Helion Ventures along with Footprint Ventures has invested additional R32.5 Cr ($6 Mn) in Mast Kalandar, a QSR chain run by Spring Leaf Retail Private Limited.
The funds raised will be utilized to expand its number of outlets from 40 to 100 across 8 cities in next 18 months.
In this third round of investment, Helion Ventures has invested $5 Mn while the balance is infused by Footprint Ventures in ethnic Indian food chain that has now raised a total of $11 Mn in equity capital.
In 2008, Footprint Ventures had invested in the Series A round of funding of Spring Leaf. In 2010, both the PE firms - Helion and Footprint Ventures along with Salarpuria Group, an angel investor invested in Series B round in Mast Kalandar.
Mast Kalandar is a North Indian quick service restaurant chain, promoted by Gaurav Jain and Pallavi Gupta. It has steadily grown to 40 outlets in 4 cities in Bangalore, Hyderabad, Chennai and Pune in the last six years.
The chain currently serves two lakh customers every month across its outlets. With over 550 employees, Mast Kalandar operates on a hub and spoke supply chain model.
The Indian 'eating out' market is estimated at around R33,000 Cr by retail consultancy Technopak Advisors. The organised sector is valued at about R8,000 Cr and growing by 20-25%. The QSR space in India faces challenges such as long gestation periods, rising real estate costs and complexity of logistics and back-end operations.
Recently in September, Indian Angel Network invested an undisclosed amount in Mexican Quick Service Restaurant – Poncho in Mumbai. SAIF Partners invested R40 Cr in TMA Hospitality Services owned - Ammi's Biryani. In July, Correa Hospitality invested $5 Mn in a QSR chain Fishtro for an undisclosed stake.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 2012-12-03 | Spring Leaf - Helion Venture, Footprint Ventures | Private Equity |
Helion Venture Partners Footprint Ventures |
6.00 |
| 2011-02-10 | Spring Leaf - Footprint Ventures(PE) | Private Equity |
Footprint Ventures |
0.00 |
| 2010-10-06 | Mast Kalandar (Spring Leaf) - Helion, Footprint, Salarpuria Group - Round2 | Venture Capital |
Helion Venture Fund II Footprint Ventures Salarpuria Group |
2.10 |
| 2008-07-11 | Spring Leaf - Footprint Ventures | Venture Capital |
Footprint Ventures |
1.05 |
| 2006-08-31 | Spring Leaf - Salarpuria Group(PE) | Private Equity |
Salarpuria Group |
- |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 16/04/2013 | Private Equity | CX Partners | Barbeque Nation Hospitality Limited | 20.14 | Completed |
| 03/12/2012 | Private Equity | Helion Venture Partners | Spring Leaf Retail Private Limited | 6.00 | Completed |
| 26/11/2012 | Private Equity | IDFC Private Equity Fund III | Manipal Servicecorp Facility Management Private Limited | 18.04 | Completed |
| 18/10/2012 | Private Equity | Sunrise Fund | Olive Bar and Kitchen Private Limited | - | Completed |
Fund |
||||
| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| Footprint Ventures | IT/ITES/Technology Telecom Infrastructure Healthcare Pharma |
http://www.footprintventures.com/index.htm | Neill BrownstainLinda BrownsteinJosh Bornstein | |
| Helion Venture Partners | 350 | IT/ITES/Technology Outsourcing Services Cleantech |
http://www.helionvc.com/ | Ashwin Heerdaye JugbandhanDourvesh (Vikas) KumarAshish GuptaSanjeev Aggarwal |
Company | ||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Spring Leaf Retail Private Limited |
Gaurav Jain Pallavi Gupta |
1st Floor, Regent Court, No 17, ST Bed Extension, 80 Ft Road, Koramangala, 4th Block | http://www.mastkalandar.com | |
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