UTI Ventures invests 10 million dollars in 'Laqshya Media'

New Delhi, Nov 2 (UNI) Bangalore-based private equity firm UTI ventures has announced an investment of Rs 10 million dollars into Laqshya Private Ltd, an outdoor media company in India.

For the first any time private equity firm has invested in the Indian outdoor media sector. Enam Financial Consultants acted as investment bankers to the transaction.

''Laqshya's track record, deep understanding of the Indian outdoor advertising industry and strong vision of the founding team will help the company achieve significant success'', UTI ventures CEO and MD Raja Kumar said.

We believe that the 'out of home' advertising industry in India is poised for a very rapid growth. Huge urban infrastructure expansion, consumerism, technological innovations and increased acceptability of the benefits of the medium will drive the industry's growth, Mr Raja added.

Commenting on the investment, Laqshya Media CEO and MD Alok Jalan said ''Till recent past outdoor media was considered to be an unorganised media, which has now been transformed into best value for money media for advertisers.

With Indian economy witnessing a high growth trajectory, retail boom and infrastructure development, we see out of home media growing at an exponential pace, Mr Jalan said.

UTI Venture funds (UVF) manages two funds with committed capital of about 220 million dollars. UVF invests across sectors in unique businesses and passionate leaders serving their needs for growth and expansion capital.

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