Meanwhile, media entrepreneur turned investor Ronnie Screwvalaâ€™s Unilazer Ventures Ltd had acquired a 43.5 per cent equity stake in IHMPL for Rs 18 crore ($2.93 million), valuing the firm at RS 41.3 crore.
Impresa Hospitality Management, owned and managed by serial restaurateur Ketan Kadam, has raised second round of funding with a USD 1 million (INR 6.5 crore) from Trans Continental Venture Fund.
As part of the deal, TCVF's Jayendra Shah, who is partner at NA Shah Associates and also one of the founding directors, will join the board of IHMPL to take its business forward.
“Ketan is a seasoned restaurateur with a track record of having built several restaurant brands. He has created a strong launch-pad for his business through the use of technology and outsourcing of non-core operations, both of which are critical for any QSR to succeed,” shared Shah.
Known for its Lebanese QSR chain, Maroosh, Impresa has brands like DaVinci’s and Two One Two Bar & Grill.
Meanwhile, media entrepreneur turned investor Ronnie Screwvala’s Unilazer Ventures Ltd had acquired a 43.5 per cent equity stake in IHMPL for Rs 18 crore ($2.93 million), valuing the firm at RS 41.3 crore.
Trans Continental Venture Fund (TCVF) invests around USD 1 million per transaction, and is sector agnostic. Other investments include companies in technology and manufacturing.
Impresa will use the funds for Maroosh to take advantage of the rapidly growing opportunities in the food services industry.