Avigo set to close Rs 360-450 cr deals

A vigo Capital Partners, the Delhi-based private equity company with focus on mid-market investments, is in the final stages of negotiations with four companies in the sectors of infrastructure and education, with a proposed total deal size of $80-100 million (Rs 360-450 crore).

One deal is on funding an infrastructure company’s buyout plans. Each deal would be in the range of $15-25 mn. Achal Ghai, managing partner, said, “We are very bullish on infrastructure. The continuing M&A (merger and acquisition) activities pushed by Indian firms in global resources bring immense potential for infra-related companies in India.”

Last November, Avigo had invested $30 mn for a significant stake in AMR Constructions, a Hyderabad-based mining and infrastructure services company. In early 2010, Avigo had invested $14 mn in Delhi-based Naftogaz India Pvt Ltd, an engineering company in the oil and gas sector.

Avigo has invested about $365 m (Rs 1,640 crore) in various companies. It closed its third fund, Avigo SME Fund III, at $240 mn (Rs 1,080 crore) last year. It has deployed about 30 per cent from it. This year, it made two exits, selling 40 per cent stake in denim maker Spykar back to the promoters and selling its stake in Privi Organics to Standard Chartered PE.