Akshaypat Singhania, Chairman and MD of JK International, has created the Rs 100-crore fund to invest in healthcare, lifestyle and F&B companies and startups.
Akshaypat Singhania, Chairman and MD of JK International, on Tuesday announced that he has set up a Rs 100-crore fund to invest in lifestyle, healthcare, food & beverage companies and other startups.
The scion of the fourth generation of Singhania family, Akshaypat, is now looking for Indian startups to invest in. He is targeting startups that have created a brand for themselves and are now struggling to raise funds for re-engineering. In a statement, he said,
"I am looking for companies with strong commitment, which have sustained profitable growth, should have sustained profitable growth, should have better understanding of business model, understanding of future trends."
Keeping in mind India's growing middle-class and their increasing consumption patterns, Akshaypat said he sees a sustainable double-digit growth potential in the healthcare and lifestyle sectors, and is looking for entrepreneurs who would be able to combine their skill with financial management capabilities.
"I follow the mantra of 'invest and intensify'. I do not intend to only invest and wait for investments to appreciate, but also use my own experience to help the business grow larger to build a professional team, implement better processes, strengthen use of technology and to infuse transparency in the system so that the business can strive ceaselessly for growth and efficiency," he added.
Making his policies clear, Akshaypat said that the business model must have a deep understanding of business and should also be able to deliver positive social impact.
Also the director of JK Organisation, Akshaypat has a 20-year association with Raymond Limited as its director. He also launched Park Avenue, India's first national 'ready to wear' brand for men. His other business activities include those in the cement and denim businesses.