New Silk Route Explained

New Silk Route partners
Type:Private
Foundation:[1]
Location:New York, United States
Mumbai, India
Bengaluru, India
Dubai, United Arab Emirates[2]
Industry:Private equity
Products:Private equity, growth capital
Aum:$1.4 billion
Predecessor:Taj Capital
Founder:Rajat Gupta
Parag Saxena
Victor Menezes
Key People:Parag Saxena
Victor Menezes

New Silk Route Partners LLC (NSR) is an Indian private equity firm that invests in private companies in India, Asia, and the Middle East.[3]

History

New Silk Route was initially named Taj Capital. Its founding team included, at various points (alphabetically):[4] [5]

Kumar, Rajaratnam, and Schwartz resigned as founding partners before the firm began operation.

The firm enjoyed close relationships with both Goldman Sachs and the Galleon Group: "A month before joining Goldman’s board, Rajat Gupta began marketing a $2 billion hybrid private-equity and hedge fund vehicle called Taj Capital Partners with one of Goldman’s biggest hedge fund clients, Raj Rajaratnam."[6] According to Fortune, "New Silk Route's original fundraising was for $2 billion (under the name Taj Capital) -- and [...] the first $600 million or so went into Galleon hedge funds."[7]

Management

Advisory board

The fund formed a strategic advisory board in January 2012 comprising:[8]

Investments

In 2007, it invested in Reliance Telecom Infrastructure[9] and Ascend Telecom.[10] In 2008, it invested in Augere,[11] Beaconhouse School System,[12] Destimoney,[13] and Orissa Television Communications.[14] In 2010 NSR invested in Café Coffee Day,[15] Nectar Lifesciences,[16] and Amonix.[17]

In 2013 it invested in Moshes Fine Foods. It had large stakes in 9X Media and Ascend Telecom Infrastructure as of 2016. Its other investments at the time included VRL Logistics, Rolex Rings, KS Oils, Varsity Education Management and Vasudev Adiga’s Fast Food.[18]

Further reading

External links

Notes and References

  1. http://nsrpartners.com/content/profile Leading Asia-focused growth capital firm | NSR
  2. http://nsrpartners.com/content/offices Offices | NSR
  3. http://www.thehindubusinessline.com/features/investment-world/article2704374.ece ‘The question is how much venture capital India can absorb' | Business Line
  4. Scannell, Kara. (2011-03-17) Insider trading trial star witness challenged. FT.com. Retrieved on 2013-07-18.
  5. http://articles.economictimes.indiatimes.com/2009-10-31/news/28457302_1_raj-rajaratnam-galleon-group-rajat-gupta Galleon head, McKinsey ex-chief built ties in '06 - Economic Times
  6. http://dealbreaker.com/tag/goldman-sachs-board-members-do-lots-of-business-with-the-firms-clients/ Goldman Sachs board members do lots of business with the firm’s clients « Dealbreaker: Wall Street Insider – Financial News, Headlines, Commentary and Analysis – Hedge Funds, Private Equity, Banks
  7. Primack, Dan. Alleged inside trader is more than a "consultant" and ex-Goldman director. Fortune. March 1, 2011.
  8. http://www.vccircle.com/500/news/new-silk-route-forms-strategic-advisory-board-to-help-portfolio-cos New Silk Route Forms Strategic Advisory Board To Help Portfolio Cos
  9. Web site: New Silk Route to Buy 72.5% Stake in Telecom Tower Company Aster Infrastructure | VCCircle . January 31, 2012 . dead . https://web.archive.org/web/20100323072252/http://www.vccircle.com/500/content/new-silk-route-to-buy-725-stake-in-telecom-tower-company-aster-infrastructure . March 23, 2010 .
  10. http://telecombulletin.blogspot.com/2011/03/new-silk-routes-ascend-telecom-india.html Telecom News Bulletin: New Silk Route's Ascend Telecom, India Telecom Infra Merge
  11. http://www.telecompaper.com/news/new-broadband-service-augere-to-focus-on-developing-nations New broadband service Augere to focus on developing nations
  12. http://nsrpartners.com/content/beaconhouse-school-system Beaconhouse School System | NSR
  13. News: Private equity group Carlyle set to buy out Destimoney from New Silk Route. The Economic Times. Arijit Barman. December 2, 2014.
  14. http://in.reuters.com/article/idINIndia-55777420110322 New Silk Route eyes exit in Ortel Communications IPO | Reuters
  15. http://www.thehindubusinessline.com/todays-paper/tp-corporate/article989518.ece NSR invests in Coffee Day Resorts | Business Line
  16. http://in.reuters.com/article/idINIndia-46686420100305 "New Silk route invests in Nectar Lifescience"
  17. Woody, Todd. (2010-04-21) A Big Bet on Solar Technology - NYTimes.com. Green.blogs.nytimes.com. Retrieved on 2013-07-18.
  18. News: Balakrishnan . Reghu . New chapter for Rajat Gupta, but fund he founded still struggles . 15 March 2016 . Livemint . 1 April 2022.

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