UditA91 Partners is now in the final negotiations to lead a $30 Million funding round in the Hector Beverages, which is also best known for its paper Boat brand of the ethnic Indian drinks, according to the report which has been revealed.
Belgian investor Sofina, one of the existing investors in the company, is now also expected to participate in the round, with the Hector seeking around at a valuation of $200 Million after the round.
As a part of the ongoing funding round, A91 has already invested around an initial tranche of around $1.45 million in the Hector on the 20th of March.
A91 is early to a mid-stage investment firm to set up last year by three of the Managing directors of the Sequoia Capital – Gautam Mago, Abhay Pandey, VT Bhardwaj. The funds plan to invest around $10-$30 million in the middle age startups across the Series B or C stage. It will look to invest in the sectors such as the financial, consumer, healthcare brands from its $300 Million of funds which it is currently raising.
Source: PaperBoat