Exhilway Set To Merge SME VIVO Private Equity Fund

Exhilway Private Capital Market will merge its two proposed PE funds called SME VIVO - I and II to create a one single product called SME VIVO Mega which will raise close to US $180 million.

New Delhi (I-Newswire) February 24, 2013 - Exhilway Private Capital Market (EPCM), India’s first innovative funding platform for the unlisted companies is all set to merge its two proposed private equity (PE) funds, which are due for this year, called SME VIVO - I and SME VIVO - II.

The cummulative size of the fund will be close to INR 1,000 crore or US $180 million and will be called SME VIVO Mega, it will be thrown open for subscription in India, UAE and USA. Over 40 companies will be made part of this fund, creating a paper worth of over US $1 billion for the promoters.

The fund will start raising commitments in the month of March and is expected to close in July this year. The fund will offer capital protection and a minimum guaranteed return to its investors majorly against equity pledged by the promoters, the tenure of the fund will be five years but will start commencing exits from the third year itself.

EPCM may shelve its alliance with Deberry Ventures as the Denmark based fund was found too small for the alliance.

“EPCM is dedicated to create maximum value for its investors and the portfolio companies. We are just getting bigger and better,” said Ajay Garg, Executive Director of Exhilway Global Wealth, the parent company of EPCM.

Exhilway Global Wealth officials will meet India’s finance minister P.Chidambaram and Congress President Sonia Gandhi just after budget to discuss the India’s vision for the SME companies and to present their plans for the emerging business sector. EPCM has some big plans for India, however some initial hiccups on the legal front has taken planned projects on the back foot.

EPCM plans to bring US $2 billion of investment from UAE and USA in its private equity and other Indian stock markets based investment products proposed to be launched this year itself.

Internally, Exhilway Global Wealth is also preparing war chest for acquiring a wealth management firm, the insiders also say that the company is preparing to launch its own SME stock exchange, however no official information is rolled out yet.

EPCM plans to hire 700 from India and is in touch with the top notch colleges.

“India as a country is very positive on the SME sector, the next billions will come from SME, the era of companies started in year 70’s is about to get over,” said Nasir Ali, Senior Vice President, EPCM.