Jupiter Capital eyes more investments in tech startups

Serial entrepreneur turned parliamentarian Rajeev Chandrasekhar's strategic investment firm Jupiter Capital Pvt Ltd, is looking to float a new fund that would allow it to invest in several more firms, especially tech startups.

For more details on the new fund click here.

Jupiter Capital will streamline its investment focus on new age technologies this year, Amit Gupta, COO of Jupiter Capital, told Techcircle.in.

While the Bangalore-based investment firm has not set an investment target in terms of number, there will be a significant focus on investing into startups that operate in the space of technology, solar, fin-tech and ed-tech. In 2015, Jupiter Capital had invested in close to 10 startups, according to Gupta.

"Typically, about 30 per cent of our investments constitute early-stage deals while another 30-40 per cent of our investments is reserved for follow-on commitment post the portfolio firms raise Series-A funding," he added.

Last month, it invested $2 million in clean energy startup  Altigreen Propulsion Labs Pvt Ltd, a startup that provides technology solutions for electric and hybrid powertrains.

"We will continue our exposure into clean energy technology domain," said Gupta adding that the investment firm is looking to build an investment portfolio of services blended with technology.

Last October, Bangalore-based online hypermarket Urdoorstep Eretail Pvt Ltd had received Series A funding from Jupiter Capital.

Bangalore based investment and financial services firm Jupiter Capital was founded in 2005 by Rajeev Chandrasekhar with an initial outlay of $100 million. Chandrasekhar had previously built and sold Mumbai-based telecom firm BPL Mobile (later renamed as Loop Mobile) to Khaitan family in 2005.

Some major investments of Jupiter Capital include Axis Cades, a listed company in the engineering services space and a tier I supplier to global aerospace OEMs; Asianet News Network, a media company owning regional news channels Asianet News and Suvarna News along with local language newspaper Kannada Prabha; Indigo 919, an international radio broadcast company with presence in Bangalore and Goa that also organises live events across India; and Niraamaya Retreats, a luxury hospitality chain with presence in Kovalam, Thekkady and Kumarakom.

In 2015, Jupiter Capital also scripted a couple of exits. VCCircle had reported that Jupiter Capital sold around a sixth of its holding in public listed AXISCADES Engineering Technologies Ltd, an aerospace and engineering software services company, for around Rs 76 crore.

In another transaction, Jupiter Capital also sold its entire 24 per cent stake in India Infrastructure & Logistics Pvt Ltd (IILPL), which operates freight rail train services under the brand IndiaLinx. The stake was acquired by its JV partner APL Logistics for $10 million (Rs 62.5 crore).