New Silk Route Partners LLC (NSR) is an Indian private equity firm that invests in private companies in India, Asia, and the Middle East.‘The question is how much venture capital India can absorb' | Business Line. Thehindubusinessline.com. Retrieved on 2013-07-18.
History In early 2006, Parag Saxena, Rajat Gupta, and Raj Rajaratnam joined Mark Schwartz, the former chairman of Goldman Sachs Asia, to start a blended hedge fund and private equity company called Taj Capital Partners Asia Fund. By December 2006, plans had changed; the hedge fund was dropped and the firm was renamed New Silk Route, focused on investing in South Asian companies. By mid 2010 the fund owned stakes in more than 10 Indian companies.
Kumar, Rajaratnam, and Schwartz resigned as founding partners before the firm began operation.
The firm enjoyed close relationships with both Goldman Sachs and the Galleon Group: "A month before joining Goldman’s board, Rajat Gupta began marketing a $2 billion hybrid private-equity and hedge fund vehicle called Taj Capital Partners with one of Goldman’s biggest hedge fund clients, Raj Rajaratnam."Goldman Sachs board members do lots of business with the firm’s clients « Dealbreaker: Wall Street Insider – Financial News, Headlines, Commentary and Analysis – Hedge Funds, Private Equity, Banks. Dealbreaker.com (2010-04-16). Retrieved on 2013-07-18. According to Fortune, "New Silk Route's original fundraising was for $2 billion (under the name Taj Capital) -- and [...] the first $600 million or so went into Galleon hedge funds."Primack, Dan. Alleged inside trader is more than a "consultant" and ex-Goldman director. Fortune. March 1, 2011.
Management
Parag Saxena, CEO and founding general partner Sanjeev Chachondia, operating partner Anand Dorairaj, partner Jacob Kurian, partner Jens Yahya Zimmerman, partner Vivek Sett, partner
Advisory board The fund formed a strategic advisory board in January 2012 comprising:New Silk Route Forms Strategic Advisory Board To Help Portfolio Cos. VCCircle (2012-01-09). Retrieved on 2013-07-18. Dr. Herbert Henzler, former Senior Partner and Chairman of Europe at McKinsey & Company Nina Shapiro, VP Finance at International Finance Corporation Supratim Bose, President of Asia-Pacific at Boston Scientific and former Partner at New Silk Route
Investments In 2007, it invested in Reliance Telecom Infrastructure and Ascend Telecom.Telecom News Bulletin: New Silk Route's Ascend Telecom, India Telecom Infra Merge. Telecombulletin.blogspot.com (2011-03-02). Retrieved on 2013-07-18. In 2008, it invested in Augere,New broadband service Augere to focus on developing nations. Telecompaper (2009-07-20). Retrieved on 2013-07-18. Beaconhouse School System,Beaconhouse School System | NSR. Nsrpartners.com. Retrieved on 2013-07-18. Destimoney, and Orissa Television Communications.New Silk Route eyes exit in Ortel Communications IPO | Reuters. In.reuters.com. Retrieved on 2013-07-18. In 2010 NSR invested in Café Coffee Day,NSR invests in Coffee Day Resorts | Business Line. Thehindubusinessline.com (2010-04-20). Retrieved on 2013-07-18. Nectar Lifesciences,"New Silk route invests in Nectar Lifescience", Mosaic Media Ventures Private Limited Copyright 2008 VCCircle.com; via Reuters. March 5, 2010 6:01pm IST. Retrieved 2011-03-10. and Amonix.Woody, Todd. (2010-04-21) A Big Bet on Solar Technology - NYTimes.com. Green.blogs.nytimes.com. Retrieved on 2013-07-18.
In 2013 it invested in Moshes Fine Foods. It had large stakes in 9X Media and Ascend Telecom Infrastructure as of 2016. Its other investments at the time included VRL Logistics, Rolex Rings, KS Oils, Varsity Education Management and Vasudev Adiga’s Fast Food.
References
Further reading FT Tilt Cafe Coffee Day Saxena interview
External links NSR official website