Mayfield India Fund and SIDBIVenture infuse Rs.50 crore in Fourcee Infrastructure Equipment Pvt. Ltd.
Tuesday March 09, 2010 , 3 min Read
Investments to help Fourcee accelerate growth
Mumbai, March 8th, 2010 – Mayfield India Fund and SIDBIVenture today announced a new investment in Fourcee Infrastructure Equipment Pvt. Ltd. (Fourcee). Under the terms of the investment, Mayfield India Fund and SIDBIVenture will invest Rs.50 crore in Fourcee to expand their tank terminals, add more uniquely designed containers and grow their infrastructure.
This new investment reflects Mayfield India Fund’s investment theme of adding value to growth stage companies in the consumer and infrastructure segment. The alliance comes at a time when the industry has shown consistent growth, even in these challenging economic times. Currently, Fourcee is the only company focused on providing end to end logistics solution for liquid cargo through road and railways using its own specialized designed containers. Mayfield India’s and SIDBIVenture’s investment provides an exciting opportunity for Fourcee to expand its footprint and offer unique logistic solutions in India.
“The logistics industry in India is going through a structural change and Fourcee struck us as a company that is bringing about a transformational change in the way liquid cargo is being transported across the country,” said Vikram Godse, Managing Director, MF Advisors. He further added, “We are glad to be partners with a management team that is innovative and highly motivated in building a multi-modal logistics company.”
“Our new partnership with SIDBI Venture and MF Advisors directly supports Fourcee’s longstanding singular focus on strategically expanding our nationwide footprint and growing our infrastructure,” said Rajesh Lihala, CEO of Fourcee. He added, “Both the partnershave a proven track record as a long-term growth partners, and share our commitment to offering our customers the finest logistic solutions the industry has to offer.”
Vipul Mankad, President, SIDBIVenture said, “Fourcee has evolved an innovative business model with strong value proposition to its customers. It offers cost effective and efficient transportation solution. It is uniquely positioned to address needs of fast growing logistic industry and has first mover advantage.”
MF Advisors Managing Director Vikram Godse would be joining Fourcee’s board of directors.
About Mayfield India Fund
Over the past 40 years, Mayfield Fund has been at the forefront of investing in emerging businesses that have grown into industry leaders. Mayfield Fund invests in the U.S., China and India and currently has $2.4 billion under management. It has invested in over 480 companies of which 105 have had initial public offerings and another 160 have been acquired. Some of Mayfield past investments include Compaq, Amgen, SGI, 3COM, Sandisk, Citrix, Cypress Semiconductor, Intuitive Surgical, Web Methods, Tibco, 3PAR and LSI Logic.
Mayfield started investing in India in 2006, and with a dedicated India fund, raised in 2008, has made direct investments in companies like Satya Paul, Geodesic Techniques and Paymate.
Mayfield India focuses on companies with substantial operations in India that have the potential to become global leaders, with a special interest in Consumer, Speciality retail, technology & technology enabled services, infrastructure ancilliaries and Agri related companies.
For further information Elita Sequeira - Adfactors PR @ 9819478708 or email at [email protected]
