News: Multiples PE invests more than half of second fund, gears up for third

#MergersAndAcquisitions

Multiples PE invests more than half of second fund, gears up for third

Renuka Ramnaths Multiples PE has already invested more than half of second fund. It has invested 55% of $700 million fund in PeopleStrong, Arvind, Vastu Housing Finance & Encube Ethical.
Multiples PE invests more than half of second fund, gears up for third

While Multiples PE gears up for third fund in 2018, it has already invested over half of the second fund. As per media reports, Renuka Ramnath’s Multiples PE has invested 55% of $700 million fund in companies such as PeopleStrong, which is  Human Resources technology and solutions firm;  Arvind Fashions Ltd, the brands business of textile company Arvind Ltd; pharma firm Encube Ethicals Ltd; and housing finance company, Vastu Housing Finance Corp. Ltd.

Last year Multiples PE successfully closed second fund of $700 million and in 2011- it has raised its first fund of $405 million. 

A senior executive of the company shared with media that their second fund is already 55% invested, and they expect to invest around another 20% of the corpus. Looking forward towards its third fund, Multiples PE plans to take some significant steps by institutionalizing its systems, processes and investment thesis. Planning ahead, Multiples will implement deep sector-focused approach and has developed a proprietary framework to assess entrepreneur fit.

In April this year, Private equity firm Multiples signed a 400 crore deal for acquiring a majority stake in PeopleStrong.  The funding will be utilized to acquire other HR companies in India and across Asia. It would also look to strengthen its existing products, viz the HR App and the HR chatbot ‘Jinie’ that it launched last year.  Indian HR industry is shifting decisively from services to technology. As the talent challenges of organizations have evolved, so have the solutions around them. Predictive analytics, appification, social media and gamification are focal points in HR technology conversations today. 

The rounds of Acquisitions in HR Tech space in India just seem to be getting bigger and bigger. Co-Cubes was acquired by AON in November 2016 at an estimated Rs 70-80 CR, it was then, one of the biggest acquisitions of an Indian HR Tech company. 

Multiples  was founded by Ex MD & CEO of ICICI Venture, Renuka Ramnath in 2009. It is an India focused investment advisory firm, managing USD 1 Billion of PE funds.  The investments of the fund are guided by new to market opportunities, consolidation of shareholder or business turnarounds. 

 

Topics: #MergersAndAcquisitions, C-Suite, Entrepreneurship

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