Delhi based startup B9 beverages is close to raising $30 million (Rs 200 crore) from private equity funds. TPG Growth, Blackstone Group Lp and New York-based private investment firm Veronis Suhler Stevenson (VSS) are among funds interested in the beer maker.
Venture capital fund Sequoia Capital India Advisors is the largest investor in B9 Beverages. Sequoia currently owns more than 55 per cent in B9 Beverages, through its two funds SCI Investments IV and SCI Investments V.
Last month, B9 Beverages raised Rs25 crore from Chennai-based asset management company Anicut Capital by issuing redeemable non-convertible debentures.
B9 Beverages founder Ankur Jain owns about 15 per cent of the company’s equity. His family members own a little more 10 per cent.
The company intends to raise $150 million through debt and equity over next 3-4 years to fund global expansion.
Jain plans to take Bira91 beer to the UK, Singapore, Hong Kong, Thailand and the United Arab Emirates by next summer through distribution partnerships.