[Funding alert] Allana Group invests $10M in Iron Pillar Fund II
The 150 year old Allana Group has manufacturing and distribution in 20 countries, and set up a corporate venture arm in 2017. Adil Allana, Supervisory Board member of the Group, will join Iron Pillar as a Board Partner.
Venture growth Investor Iron Pillar has announced it has raised an investment of $10 million from the Allana Group in its Fund II. The 150-year old group has manufacturing and distribution in 20 countries. It specialises in consumer industries with a strong focus on ASEAN, MENA and India. Adil Allana, Supervisory Board member of the Group, will join Iron Pillar as a Board Partner.
The Allana Group aims to help Iron Pillar portfolio companies expand globally.
Anand Prasanna, Managing Partner, Iron Pillar said in a press note -
“We have an existing relationship with Adil and Allana Group through their investment in FreshToHome, where they have added significant value to the company in operations and international expansion. This is the logical next step for us to take our fruitful partnership forward to support many more of our portfolio companies. As we continue to build Iron Pillar, we look forward to collaborating with more large Indian and global business groups who can help our portfolio companies improve their operations and expand across US, Middle East and Asia Pacific.”
Iron Pillar also added three senior professionals to its investment team. Sajid Fazalbhoy, previously with Blume Ventures, has joined Iron Pillar as Partner. Pavan Gupte, who has more than twenty years of alternative investments experience with firms like CVCI, KKR and Hermes GPE has joined as a Board Partner. Rahul Garg, previously with Kalaari Capital and Lehman Brothers, has joined as Principal.
Iron Pillar’s portfolio includes technology companies like Uniphore, FreshtoHome, Servify and CoreStack that are built from India for Indian and global markets. In 2020, Iron Pillar has also set up ‘Iron Pillar Network’, a stellar line up of senior technology executives from companies/institutions like Amazon, Bertelsman, Careem, Cloudera, Discord, Google, Intertrust, JLL, McGraw Hill, Optum, SAP, Snowflake, SRI, UPenn, University of Utah, Zoho etc to help its portfolio companies expand globally.
Edited by Anju Narayanan