Private Equity

PE-VC Fund Investments

EPC solutions provider Enmas raises Rs.57-Cr from India Ahead Venture Fund, others

Business Standard   Enmas EPC Power Projects  

Chennai-based EPC (Engineering, Procurement, and Construction) solutions provider Enmas EPC Power Projects has raised INR 57 crore in its maiden funding round anchored by India Ahead Venture Fund, a Category I AIF managed by Abakkus Asset Manager LLP along with Biyani Growth Ventures LLP (promoted by the Founders of Asian Market Securities), family members of JyotiVardhan Sonthalia, Vitamin M Securities (promoted by Madhu Sarada), SVK Realty & Investment (family office of S Vinodkumar Diamonds Group), Anil Raika's Family Office, Gaurav Jain and Prateek Jain (Heads of Hem Securities), Ankush Kedia (former Principal of Avendus-owned Ocean Dial AMC) and other HNIs.Founded in 1985, Enmas EPC has built 700+ MW of power projects and 2,000+ MW in boilers and balance of plant contracts across more than 14 countries. The company has also expanded into renewable energy, particularly in Bio-CNG/Renewable Natural Gas (RNG) and has executed landmark projects in the USA, Korea, and Thailand.The fresh funds will be used by the company to expand its bandwidth across biomass, biogas and waste-to-energy verticals, while capitalising on high-value international opportunities.