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ValueQuest SCALE Fund I & II – AIF CAT II

Companies at growth
inflexion point

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Portfolio Strategy and Approach

  • A distinctive private equity strategy

    of balancing returns with liquidity

  • Portfolio
    construction

    12-16 growth to late-stage companies

  • Our Edge

    Investing in businesses with proven models & positive unit economics

  • Value Creation

    Backing companies with strong visibility for value creation

Focus of ValueQuest SCALE Fund

Optimal business stage: The sweet spot for value creation

Key Facts (Scheme I)

  • Fund Size

    ₹1,350 Crs 
(US $160 Mn) Fully raised

  • Fund Manager

    Pushkar Jauhari

  • Fund Tenure

    7 Yrs (+1 year + 1 year) from 1st Close 1st Close – March 2023

  • Investee Companies

    14 Investee Companies (~83% deployed) 5 Listed (Private Earlier) 2 DRHP Filed

Key Facts (Scheme II)

  • Fund Size

    Target ₹3,000 Crs. plus ₹1,000 Crs. Greenshoe option (Actively Raising – Raised ~30%)

  • Fund Manager

    Pushkar Jauhari

  • Fund Tenure

    8 Yrs (+1 year + 1 year) from 1st Close 1st Close – June 2025

  • Investee Companies

    2 Investee Companies (~13% deployed) Robust Deal Pipeline

Leadership Team

  • Ravi
    Ravi Dharamshi

    Founder & CIO

  • Pushkar
    Pushkar Jauhari

    Managing Director & Head - PE

Senior Investment Team Members

  • Anirudh Sarda
    17 years of experience

    Education: CFA (USA), MBA
    ex-Oikocredit, Small is Beautiful, Nava Bharat Ventures, UBS

  • Abhishek Trivedi
    20 years of experience

    Education: CA, CFA (USA)
    ex-Kitara Capital, Motilal Oswal

  • Vishal Thanvi
    8 years of experience

    Education: CA
    ex-Centrum Alternatives, ICICI Bank

  • Sonia Lalwani
    9 years of experience

    Education: CA, CFA (USA) Level III candidate
    ex-Stratford House, Pareto, Purnartha, KPMG

Investment Team

  • Anas Dadarkar
    9 years of experience

    Education: CFA (USA)
    ex-CLSA, Emkay Global, Motilal Oswal, Choice International

  • Namril Shah
    5 years of experience

    Education: CA
    ex-BMS & Associates

  • Jenil Jain
    3 years of experience

    Education: CA, CFA Level II candidate
    ex-KPMG

  • Siddharth Nagda
    5 years of experience

    Education: ex-Tata Consultancy Services
    B.Tech. (Computer), MBA

Platform Team

  • Kunal Sarupria
    12 years of experience

    Education: MBA (Finance)
    ex-Trica Capital, BMR Advisors, JM Financial, Seagul IR Advisors

  • Tushnaz Patel
    6 years of experience

    Education: LLB, B.Com
    ex-Shardul AmarchandMangaldas

Investee Companies - Scheme I Overview

Waaree Energies Ltd.

Largest Indian integrated energy transition player manufacturing solar PV modules & cells in India with robust plans of backward integration

ENERGY TRANSITION
New Economy

 RR Kabel

Amongst top 5 players in wires and cables industry with a growing FMEG business

SPECIALTY MANUFACTURING & INDUSTRIALS
Classic Economy

Zaggle Prepaid Ocean Services Ltd.

Leading player in expense & spend management solutions with diverse monetization through SAAS and transaction revenues from growing base of corporate clients

TECHNOLOGY - FINTECH
New Economy

TBO Tek

India's leading travel distribution platform catering to B2B agents across hotel bookings & airline ticketing

TECHNOLOGY - TRAVELTECH
New Economy

Unimech Aerospace

Niche precision components manufacturer catering to aerospace, defence, power generation, nuclear and semiconductor industries

SPECIALTY MANUFACTURING & INDUSTRIALS
Classic Economy

Solarworld

Solar energy solutions provider, specializing in EPC services for solar power projects – both rooftop & ground-mounted as well as a solar module manufacturing facility

ENERGY TRANSITION
New Economy

Jupiter International

Solar cell manufacturer with deep experience, strong technical capabilities and professional management team experiencing strong scaling up

ENERGY TRANSITION
New Economy

Edunetwork Pvt. Ltd. (Rentomojo)

Leading furniture and appliances renting company offering multi-brand products with an omnichannel presence targeting young executives looking for flexible home furnishing solutions

CONSUMER TECH
Classic Economy

Sabine Hospitals

Single-speciality mother & childcare hospital brand offering integrated care including fertility treatment, Obstetrics, Gynaecology and Neonatology

PHARMA & HEALTHCARE
Classic Economy

Naffa Innovations
(‘Tonetag’)

Sound-wave powered deep-tech payments platform enabling secure, contactless transactions while providing customers with advanced data analytics

TECHNOLOGY - FINTECH
New Economy

Purple Style Labs 
(Pernia Pop-Up)

Luxury designer wear platform with omnichannel presence under the brand ‘Pernia’s Pop-Up’

CONSUMER (LUXURY RETAIL)
Classic Economy

 August Jewelry 
(Melorra)

Jewellery player with elegant and niche product designs with omnichannel presence focused on daily wear market

CONSUMER (RETAIL)
Classic Economy

Veeda Clinical Research

Prominent Clinical Research Organization (CRO) in India with capabilities of serving innovative pharma companies as well as generics for their human and animal clinical trial needs

PHARMA & HEALTHCARE
Classic Economy

Wow Momo Foods

India’s largest homegrown Chinese QSR chain - expanded beyond momos into meals (WoW China), new formats (WoW Chicken, WoW Kulfi), and FMCG products

CONSUMER (QSR)
Classic Economy

ValueQuest S.C.A.L.E Fund is a scheme of ValueQuest Alternate Investment Trust, registered with SEBI as a Category II AIF, vide registration number IN/AIF2/22-23/1156 Quest4Value Investment Managers LLP is the Investment Manager and ValueQuest Investment Advisors Private Limited is the sponsor of ValueQuest S.C.A.L.E Fund. Amicorp Trustees (India) Private Limited is the Trustee of the AIF.

ValueQuest S.C.A.L.E Fund II is a scheme of ValueQuest Alternate Investment Trust II, registered with SEBI as a Cat II- AIF, vide registration number IN/AIF2/24-25/1737. Quest4Value Investment Managers LLP is the Investment Manager and ValueQuest Investment Advisors Private Limited is the sponsor of ValueQuest S.C.A.L.E. Fund II. Axis Trustee Services Limited is the Trustee of the AIF.