PARAMPARA CAPITAL ACCOMPLISHES INITIAL CLOSURE OF THE FUND AND DEBUTS WITH AN INVESTMENT IN S-CUBE5 years ago Arpita Soma
ACCOMPLISHES INITIAL CLOSURE OF THE FUND AND DEBUTS WITH AN INVESTMENT IN S-CUBE. Picks up a significant minority stake for an investment of close to $1m
Parampara Capital, which recently launched its first fund Parampara Early Stage Opportunities Fund I, accomplished the initial closure of their SEBI registered AIF Category I fund and also made its first investment in Mumbai based S-Cube Futuretech, an engineering automation software provider. This is the first investment by the $15m Fund which seeks to make investments in the technology and innovation driven companies.
“S-Cube offers the perfect mix of innovative products, strong team and niche operating space – qualities which are the cornerstone for our investment philosophy. We see this company in line with ‘Start Up India’ and ‘Make in India’ initiatives – creating strong IP & domain knowledge based software products.” – Jatin Desai, General Partner, Parampara Capital
Incorporated in 2013 by Sajit V Nair and Viswas Date, S-Cube Futuretech offers software solutions to the structural and civil engineering industry. It has developed off-the-shelf products for automating structural planning and design. The company is the only leading Indian player in a market which is dominated by the international players like Bentley and CSI.
S-Cube, which boasts of marquee clients like Tata Consulting Engineers, Sterling Engineers, Engineers India and Toyo Engineering, will use the investment for product development and strengthening the company’s presence in Asian countries.
Parampara Capital was setup by Venkat Vallabhaneni, Jatin Desai and Sridhar Rampalli. Venkat is a serial entrepreneur, technology evangelist and an investor with successful exits. Jatin Desai, General Partner at the fund has over 25 years of global experience in technology sector. He was previously the CIO of Bank of America – Merrill Lynch in India. Sridhar Rampalli is the founder of Blue Ocean Multi Client Family Office, a boutique financial advisory services firm. He was previously associated in various capacities with Anand Rathi Financial Services, ICICI Bank and ABN AMRO.
Parampara Early Stage Opportunities Fund – 1, which was launched in August 2015, has achieved its initial closure in September this year. The fund seeks to make investments in companies across healthcare, consumer / retail, industrials and finance sectors where technology and innovation are the prime movers for the business.