15th Jul 2019 14:54
(Alliance News) - Asia-focused investment company Symphony International Holdings Ltd said Monday it has acquired a minority stake in Indian technology investor Good Capital Partners.
The deal, which amounts to less than 1% of Symphony International's net asset value was done through the company's wholly-owned subsidiary.
Good Capital Partners owns the investment manager Good Capital Management Ltd and is the general partner of Good Capital Fund I.
As part of the deal, Symphony International will become an anchor investor in GCF I.
"The founders of Good Capital were introduced to us by one of our independent directors, Rajiv Luthra, and we have been working with them to understand their investment methodology for over a period of two years. During this period we have been impressed with their approach, their network and their access to quality opportunities in India's burgeoning technology sector. We are now looking forward to partnering with them to invest in selected early stage transactions through GCF 1," Director Anil Thadani said.
Thadani added: "Along with our recent investment in Soothe Healthcare, Symphony has now made two investments in Indian businesses looking to benefit from the economic growth and promising business prospects the country has to offer."
Shares in Symphony International were down 4.4% in London on Monday at USD0.60 each.
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