Paragon Partners invests Rs 75 cr in eShakti

Paragon Partners today said it has invested Rs 75 crore in eShakti, a women's fashion brand based in Chennai.

This the sixth investment transaction by Paragon Partners Growth Fund-I, which focuses on five key sectors -- consumer discretionary, financial services, infrastructure services (asset light), industrials and healthcare services. The fund has a corpus of USD 120 million and invests USD 10-20 million.

Paragon Partners co-founder and Senior Partner Siddharth Parekh said eShakti is one of the early movers in addressing an under-served need for make-to-order apparel for women in the western markets.

"With its disruptive operating model combined with superior quality of design, fabrics and speed of execution, eShakti has been able to build a strong and growing community of loyal customers in the US," he added.

Founded by B G Krishnan, eShakti has a design office in New York. It also has a presence in Australia and Canada. In the past, the company has raised capital from investors including IDG Ventures, IvyCap and Infina Finance.

B G Krishnan, founder and CEO of eShakti, said the investment from Paragon Partners would help boost growth in the company.

"The investment from Paragon Partners is primarily needed for growth as we are building a multinational consumer brand with a global footprint... we look forward to building on our history of strong growth based on a robust value proposition that gives us both scalability and a competitive advantage," he added.