Avendus Capital Advises Boat and Its Shareholders on Its Fund Raise of Usd 100 MN From Warburg Pincus
Overview
Home-grown Indian brand boAt (Imagine Marketing Private Limited) has raised approximately USD 100 million from an affiliate of Warburg Pincus, a leading global private equity fund focused on growth investing. This investment is a landmark deal for a native Indian electronics brand, competing with the best in breed global brands and winning. It endorses the fact that Indian entrepreneurs have the capability to build brands at par with their global counterparts.
Avendus Capital acted as the exclusive financial advisor to boAt and its shareholders on the transaction.
About Boat
boAt was launched in 2016 by Aman Gupta and Sameer Mehta. The duo has created a company that today has an extensive product range across headphones, earphones, smartwatches, speakers, travel chargers and premium cables. The company has made its presence felt in a sector traditionally dominated by established global brands. boAt employs just over 150 personnel and has recently started its R&D facility in Bangalore. The investment by Warburg Pincus will enable the company to further fortify its leading market position, widen its R&D capabilities and product portfolio, and build on boAt’s efforts to create and support a manufacturing ecosystem under the Make-in-India initiative, enabling the manufacture of products in India.
Equity Capital Markets
USD 197 mn
Digital, Technology & Consumer
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