Acquisition of Interest in Good Capital Partners

RNS Number : 4221F

Symphony International Holdings Ltd

15 July 2019

 

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

Symphony International Holdings Limited ("Symphony" or "SIHL")

15 July 2019

 

Acquisition of Interest in Good Capital Partners

Symphony is pleased to announce that it has, through a wholly-owned subsidiary, invested in a minority stake in Good Capital Partners ("GCP").

GCP is the General Partner of Good Capital Fund I ("GCF I") and also wholly owns the investment manager, Good Capital Management Limited. Symphony has also made a commitment to be an anchor investor in GCF I. GCP is majority owned by brothers Rohan Malhotra and Arjun Malhotra (together, the "Promoters"), who founded Investopad in 2014 by investing their own capital into building substantial infrastructure across India (Delhi, Bangalore and Gurgaon) and creating a thriving ecosystem of technology startups. Their proven early sourcing and nurturing places them in a position where they can observe the breakout potential of companies early in their life-cycle. Investopad invested in 12 companies during this timeframe, 9 of which have already produced realised outcomes.

For their efforts, Rohan and Arjun were selected onto the prestigious Forbes 30 Under 30 List for Finance and Venture Capital.

Symphony's investment in GCP together with its commitment to GCF I constitute less than 1% of Symphony's NAV.

Anil Thadani, Chairman of Symphony Asia Holdings Pte. Ltd. and a Director of Symphony, said:

The Founders of Good Capital were introduced to us by one of our independent directors, Mr. Rajiv Luthra, and we have been working with them to understand their investment methodology for over a period of two years. During this period we have been impressed with their approach, their network and their access to quality opportunities in India's burgeoning technology sector. We are now looking forward to partnering with them to invest in selected early stage transactions through GCF 1.

Good Capital's approach to risk mitigation through their focus on nascent companies, strong entrepreneurs and extended due diligence impressed us as an attractive way to invest in India's technology space. Along with our recent investment in Soothe Healthcare, Symphony has now made two investments in Indian businesses looking to benefit from the economic growth and promising business prospects the country has to offer."

For further information:

Anil Thadani                                                                                       [phone]

Symphony Asia Holdings Pte. Ltd.

About Symphony

Symphony is a London listed strategic investment company that invests in a wide variety of businesses in the healthcare, hospitality and lifestyle ("HH&L") sectors (including branded real estate developments), which are principally in Asia. It offers a way for investors to gain exposure to businesses that benefit from the rising disposable incomes and wealth creation in the fast growing economies of Asia. Symphony's objective is to provide superior capital growth by investing in high quality companies and forming long-term business partnerships with talented entrepreneurs. Symphony is managed by Symphony Asia Holdings Pte. Ltd., which has a team of investment professionals with a broad range of expertise - many of them have been working in Asia for more than 25 years. For more information, please visit our website at www.symphonyasia.com

No representation or warranty is made by the Company as to the accuracy or completeness of the information contained in this announcement and no liability will be accepted for any loss arising from its use.

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Company in any jurisdiction. All investments are subject to risk. Past performance is no guarantee of future returns. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decisions.

This announcement is not an offer of securities for sale into the United States. The Company's securities have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offer of securities in the United States.

The Company and the Investment Manager are not associated or affiliated with any other fund managers whose names include "Symphony", including, without limitation, Symphony Financial Partners Co., Ltd.

End of Announcement

 

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