Homegrown private equity company India Value Fund Advisors (IVFA) has invested $40 million (aboutRs.270 crore) in Hyderabad-based seed firm SeedWorks International Pvt. Ltd, said a top executive of the fund.
“We have been evaluating the food and agri-business space for a while now. We have just acquired a majority stake in SeedWorks, which is in the seeds business with a focus on rice and cotton,” said Srikrishna Dwaram, partner, IVFA. “The investment was through a secondary share purchase, but going ahead, as we implement the growth strategy for the company, we will look at investing more funds in the company,” he said. IVFA raised its fifth fund— Indium V—with a corpus of $700 million in July 2015. Some of the investments from its latest fund include those in deGustibus Hospitality Pvt. Ltd, which owns and operates restaurant brands Indigo and Indigo Deli, non-banking financial company Magma Fincorp Ltd and a re-investment in portfolio firm Atria Convergence.