Key Takeaways
- • ValueQuest Tristar Fund has secured over $221 million (Rs 2,100 crore) in investor commitments within 15 months of its first close, according to an announcement from ValueQuest.
- • The fund has surpassed its original fundraising target, including the full greenshoe option.
- • Tristar has made four investments so far: Hi-Q Electronics, Rangsons Aerospace, Waaree Energy Storage Solutions and Trusted Aerospace & Engineers (TASE Global).
- • The fund targets India's advanced manufacturing sector, spanning aerospace, defence, precision engineering and energy-transition-linked manufacturing.
Summary
ValueQuest Tristar Fund, a private equity fund focused on India's advanced manufacturing sector, has secured over $221 million (Rs 2,100 crore) in investor commitments within 15 months of its first close, according to an announcement from the firm. ValueQuest said in a statement that the fund has surpassed its original fundraising target, including the full greenshoe option.
Tristar invests across aerospace, defence, precision engineering and energy-transition-linked manufacturing. To date, the fund has invested in four companies. Hi-Q Electronics manufactures mission-critical printed circuit boards for the aerospace and defence sectors. Rangsons Aerospace specialises in fluid distribution systems and satellite communications. Waaree Energy Storage Solutions focuses on battery energy storage, and Trusted Aerospace & Engineers (TASE Global) is a precision engineering company serving multiple industries with cross-border manufacturing capabilities.
Aniket Dharamshi, co-founder and Managing Partner of ValueQuest Investment Advisors, said India is at the beginning of a multi-decade transformation in advanced manufacturing, but that sector growth alone does not guarantee returns. He emphasised identifying the right businesses at the right stage of their evolution and partnering with strong promoters as they deliver against milestones.
Arvind Ananthanarayanan, Partner at ValueQuest Private Equity, said competitive advantage in advanced manufacturing is built over years through process expertise, rigorous customer qualification and consistent quality and reliability. He noted that once a supplier becomes integral to a customer's critical programs, replacing it involves significant time, cost and execution risk, and said the firm seeks businesses that can deepen customer relationships and convert industry growth into sustained, profitable growth.
ValueQuest Private Equity is the private equity platform of ValueQuest Investment Advisors, which manages over Rs 6,000 crore across two investment strategies, three funds and co-investments. ValueQuest Investment Advisors manages approximately $3.4 billion across public and private markets.
Tristar invests across aerospace, defence, precision engineering and energy-transition-linked manufacturing. To date, the fund has invested in four companies. Hi-Q Electronics manufactures mission-critical printed circuit boards for the aerospace and defence sectors. Rangsons Aerospace specialises in fluid distribution systems and satellite communications. Waaree Energy Storage Solutions focuses on battery energy storage, and Trusted Aerospace & Engineers (TASE Global) is a precision engineering company serving multiple industries with cross-border manufacturing capabilities.
Aniket Dharamshi, co-founder and Managing Partner of ValueQuest Investment Advisors, said India is at the beginning of a multi-decade transformation in advanced manufacturing, but that sector growth alone does not guarantee returns. He emphasised identifying the right businesses at the right stage of their evolution and partnering with strong promoters as they deliver against milestones.
Arvind Ananthanarayanan, Partner at ValueQuest Private Equity, said competitive advantage in advanced manufacturing is built over years through process expertise, rigorous customer qualification and consistent quality and reliability. He noted that once a supplier becomes integral to a customer's critical programs, replacing it involves significant time, cost and execution risk, and said the firm seeks businesses that can deepen customer relationships and convert industry growth into sustained, profitable growth.
ValueQuest Private Equity is the private equity platform of ValueQuest Investment Advisors, which manages over Rs 6,000 crore across two investment strategies, three funds and co-investments. ValueQuest Investment Advisors manages approximately $3.4 billion across public and private markets.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.