Indian buyout firm TIW Private Equity has acquired a majority stake in Mumbai-based Digital Platform Management firm, Digital Refresh Networks Pvt Ltd. "The deal size is about $6 million, giving Digital Refresh bandwidth to strengthen its core services & for acquisitions”.
Founded in 2011 by Ravi Dubey and Barin Mukherjee, Digital Refresh enables delivery of brand objectives on the web, mobile and social media through communication and commerce applications, audio-video elements and customized digital solutions.
The company plans to use the proceeds from the investment to strengthen its expertise in content creation.
“Digital Refresh Networks has a highly capable team led by Ravi and Barin. The company has been able to acquire and retain quite a few marquee clients, which gives us a lot of confidence as far as business sustenance goes," said Mohit Ralhan, Managing Partner and Chief Investment Officer, TIW Private Equity.
Ravi Dubey, co-founder and Executive Director, Digital Refresh Networks, stated, “Our vision is to build a digital-first communication and commerce company which provides better ROI for brands across all platforms. We intend to immediately acquire full-service capabilities in digital content creation, and build competencies in platform and market-place management.”
TIW Private Equity is a sector agnostic, buyout private equity fund that focuses on consumption-driven sectors, and helps entrepreneurs improve their companies’ margin profiles. The Fund has investments in sectors across FMCG, media, education, digital platforms, financial services, real estate and manufacturing consumption, through multiple funds.
Digital Refresh Networks Private Limited (erstwhile, Digital F5) is a digital marketing firm with capabilities in Social Platforms & Interaction Management, Content creation, performance-based marketing, and customised digital product solutions, specialising in market-place management and e-commerce services.