Access India Fund, together with other co-investing entities, has acquired a controlling stake in Teleysia Networks Pvt Ltd through a management buyout transaction.
As part of the deal, the existing CEO, Chirag Jani, will continue to lead the business of Teleysia, the company said.
Access India Fund is focussed on investments in the Indian small and medium enterprise (SME) space.
Access mostly looks for minority stakes with investment value ranging between $5 million and $15 million in mid and small cap Indian companies. The type of investments targeted mainly includes “expansions, and in some cases, financial reconstructions and change of control transactions. Generally, Access looks for companies and management teams which have a successful track record of growing their businesses domestically, and potential for above average growth rates,” says the fund’s website.
“We hope to leverage the institutional platform and network of Inventors to strengthen our operations and to grow our business. We are confident of acquiring significant market share over the next three years and we have plans to expand, both nationally as well as internationally, during this period,” said Jain.
Gujarat-based Teleysia was founded in 2008 and provides network planning, optimisation and managed services to telecom companies like Nokia, Ericsson, Samsung, Huawei, ZTE and operators like Vodafone, Airtel, Idea, Reliance.
According to a report on VCCircle, the India Access Fund has made earlier investments in adult diaper manufacturer Nobel Hygiene Ltd.and J.K. Shah Education that offers test preparation services for financial courses.