Global private equity major General Atlantic has acquired a minority stake in Mumbai-based freight and logistics company, Fourcee Infrastructure Equipments.
The investment is through a mix of fresh capital infusion into the company and a secondary transaction to buy out some stake of the existing investors, reports VCCircle.
This is the third round of funding for Fourcee after Mayfield and India Equity Partners. US-based private equity fund Mayfield has completely exited from its investment in Fourcee in this this third round of funding. Mayfield invested around $5 million in 2010. It was followed by India Equity Partners investing up to $25 million, with Mayfield also participating in a funding round last year. India Equity Partners remains the shareholder.
Alliance Legal advised Fourcee Infra with a team led by Partner Ravi Kumar along with Associate Vardaan Ahluwalia.
Wadia Ghandy advised General Atlantic with a team led by Partner Ankit Majmudar along with Associates Namrata Sinha and Sheetal Ramdas.
Economic Laws Practice advised Mayfield with Partner Yashojit Mitra along with Associate Archana Khosla.
The Bangalore office of Amarchand Mangaldas had advised India Equity Partners with a team led by Partner Reeba Chacko along with Senior Associate Akshay Bhat and Associate Kota Chandan in the second round of funding.
Fourcee provides bulk logistic solutions in specialised tank trailers and equipment in a cost-efficient manner and caters to metals, manufacturing and specialty chemicals industries. It also provides an end-to-end, full-service logistics chain to customers -- right from manufacturer’s pick-up location to the drop-off point at the customer’s premises.
General Atlantic’s other investments in India include Asian Genco, IndusInd and Infotech, among others.