Funds managed
| Fund name | Asset Class | License |
| Fund I | Private Equity (Series B,C) | SEBI AIF Cat 2 |
| Fund II | Private Equity (Series B,C) | SEBI AIF Cat 2 |
| Fund III | Private Equity (Series B,C) | SEBI AIF Cat 2 |
About the AMC
- Founded in 2004 by a group of experienced professionals
- Gaja Capital provides growth capital to ambitious entrepreneurs to build the future champions of Indian economy. A mix of entrepreneurial and operational experience enables them to deliver tangible value beyond capital to the entrepreneurs they invest in. Their innovative approach in education (most focussed), consumer and financial services sectors has enabled them to execute landmark investments. An ability to see the potential in people and ideas delivers sustained growth, transformative businesses and long term partnerships.
- 37 investments, 1m financial customers, 115k employees, 520k student customers.
- Some of their investments are – Avendus, Chumbak, EuroKids, Suryoday, Kinara, RBL Bank, CL Educate etc.
Key staff
- Gopal Jain (Managing Partner)- Gopal co-founded Gaja Capital in 2004 and is a managing partner at the Firm. He has led several of the Firm’s investments in sectors including education and financial services. Gopal has been investing in Indian equities since the age of thirteen and has been a professional investor in the Indian capital markets for 26 years. He is one of the more experienced private equity investors in India having led or co-led over 25 private equity investments since 1995. He is a graduate in electrical engineering from IIT Delhi..
- Ranjit Shah (Managing Partner)- Ranjit co-founded Gaja Capital and has been a managing partner since 2005. Ranjit has led several of the firm’s investments across clusters. Ranjit has 36 years of India based experience in multiple sectors including private equity, telecom, technology, luxury goods, financial services and consulting. He has held CXO level positions in significant Indian businesses. He has also been an entrepreneur building an asset financing company which he later took public and sold to a strategic investor. Ranjit holds an MBA from the Ross School of Business, University of Michigan, Ann Arbor and is a graduate in electrical engineering from IIT Bombay.
- Imran Jafar (Managing Partner)- Imran is a founding member of the Gaja Capital team and has over 18 years of experience in private equity, pharmaceuticals and technology services. Imran has co-led investments in the education and consumer clusters. Imran also contributes to team formation and development and strengthening Gaja Capital’s proprietary deal development capabilities. He holds an MBA from IIM Bangalore and a master’s degree in software engineering from BITS-Pilani.
Investment Philosophy (for firm)
Their investments are assessed, and input measured, in three areas; scale, transformation and partnership.
Invest in ambitious businesses whose vision they can share and grow. Their strength is identifying the potential in these companies and helping them fulfil it. They seek out the passionate entrepreneurs that will shape the economy of India and using their broad experience and expertise they help them build lasting, successful businesses.
By scale, transformation and partnerships they mean:
- Scale -‘We look at a business within its wider context. What is happening in that sector? Can this company be a leader? What would that take to achieve? Our team has multi-sector experience and expertise and backed with specific research each member is empowered to act decisively.’
- Transformation – The right kind of growth – real and lasting – ‘can only happen with the right kind of input and support. Success comes from identifying and dealing with the pain points that all businesses encounter. That is why we are committed to our relationships. Your problems are our problems and we offer strategic input to overcome them. This can be new business development, senior level hiring, business planning, better governance, or raising funds and restructuring. We look at these challenges as opportunities to make the difference.’
- Partnership – ‘We share the entrepreneurial spirit. We want to see new businesses thrive and grow. We invest our own capital alongside our investors. It puts us where we want to be – understanding the needs and expectations of ambitious entrepreneurs and delivering the best returns for our investors. Our partners see that our approach reflects the joy we feel in delivering results.’
Media
Title: Gaja Capital makes final close of Fund III at $240 million, Source: Economic Times, Date: 18th March 2016
Targeted $225M but closed the III fund at $240M. 8-10 investments, with the average investment ticket size ranging between $5-$40 million. It primarily invests in ventures that are between 7-10 years, and which have been set up by first-generation entrepreneurs. Limited Partners backing Gaja III include, International Finance Corp, the private investment arm of the World Bank, and an early backer, which had come in when the fund had announced its first close at $130 million in October 2014, US-based corporate pensions, state pensions, fund of funds, family offices and financial institutions. A number of LPs, which backed the firm’s previous fund – the $180 million Gaja II – are also believed to have backed the latest investment vehicle. Investors in Gaja II include, RWB Private Capital Fonds, MJX Capital Advisors and HDFC.
Title: Private equity firm Gaja Capital turns a page with $25 mn in edtech co Educational Initiatives, Source: Economic Times, Date: 27th July 2018.
“Education is core to their investment strategy, education is poised for its ‘cure moment’. The answer to improved learning outcomes is more a Google Maps of education than an Amazon or Netflix approach”.
People aware of the development said the transaction closed in the past few days and is a mix of primary and secondary components.
The PE firm manages assets of about $500 million across its three investment vehicles, having already recorded two strong exits — TeamLease and RBL Bank.
Analyst questions
- The focus is on the educational sector, what does it make attractive to you in order to invest? And also how it has consistently been your preferred sector throughout these 16 years?
- What primary and secondary components you consider while transacting? (to be discussed within)
You must be logged in to post a comment.