Everstone Capital Asia (also known as Everstone), established in 2006, is a private equity firm founded by Sameer Sain and Atul Kapur. Headquartered in Singapore, it operates globally, maintaining offices not only in India and Singapore but also in London, New York City, Mauritius, and United Arab Emirates.
History The origin of the company can be traced back to Future Capital, a financial services firm that was established by Sameer Sain and Atul Kapur in partnership with Future Group in 2005. Sain and Kapur took over Future Capital's private equity business in 2006 to form Everstone Capital.
At first, the company began its operations in London. Soon after, they rapidly expanded, establishing five additional offices in Singapore, India (Mumbai, Delhi, and Bangalore) and Mauritius. In 2008, it relocated their headquarters to Asia.
In 2018, Everstone opened its office in New York.
Business overview In addition to operating in the private equity sector, the company has three other investment verticals;
Real Estate & Infrastructure: Everstone partnered with the American real estate investment firm, Realterm Group to create IndoSpace Logistic Parks. In 2017 and 2018 respectively, the Canada Pension Plan Investment Board and Singapore-based GLP, partnered with IndoSpace to enter the Indian market. Venture Capital: In 2013, the company formed DSG Consumer Partner, a joint venture with Deepak Shahdadpuri, which invests in early-stage consumer businesses in India and Southeast Asia.
Investments Portfolio companiesEntry YearInvestment in US$ExitAcqueon2019Not Publicly AvailablePart exit in 2022 (via stake sale)Burger King - India and Indonesia2014 $100 million (approx.) Part exit in 2020 (via IPO)Calibre Chemicals2021$100 million (approx.) -CPC Diagnostics2019Not Publicly Available -Everlife2019$500 million (approx.) -Mediamint2016$100 million (approx.) along with US-based Recognize -Modern Foods2016Not Publicly Available 2021Omega Healthcare2019Not Publicly Available 2025Rubicon Research2016 $33 million 2019S. Chand Group2012$38 million (for 35% stake)-Sahyadri Hospitals2019Not Publicly Available-Servion Global Solutions2017$70 million (initial investment of $66 million in 2014, follow on investment of $8million in 2017)-Slayback Pharma2020 $50 million (approx.)-Softgel Healthcare2022$200 million (approx.)-Subway (master franchise for India, Sri Lanka and Bangladesh)2021Not Publicly Available-Sula VineyardsNot Publicly AvailableNot Publicly Available10% Stake Sold in 2013Translumina Therapeutics2019$72 million (approx.) -QMetry2020Not Publicly Available 2024Wingify2025$200 million (approx.)
Environmental, social, and governance Everstone Capital Asia incorporates environmental, social, and corporate governance considerations into its investment strategies. With Lightsource BP, in 2018 Everstone formed Eversource Capital. The venture manages funds for decarbonization solutions in India, including renewable energy, distribution infrastructure, e-mobility and other green energy services. Later in August 2021, it became a signatory of the Carbon Disclosure Project.
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