BTS India PE Fund buys minority pie in Carzonrent for Rs 36 cr

Mumbai, Jan 30 (PTI) BTS India PE Fund (BTS), a USD73.5-million fund providing growth capital to SMEs, hasinvested Rs 36 crore for a minority stake in Carzonrent, a topIndian personal ground transportation solutions major.

"We have invested Rs 36 crore in Carzonrent and pickedup a minority stake. Carzonrent will use the amount for itsexpansion," BTS Investment Advisors Managing Director KSrinivas told PTI here.

BTS India has the Swiss Government, ADB, CDC of the UKand Belgium Investment Office as investors, while Carzonrentoffers services covering car rental, radio taxi and operatinglease, the only Indian firm to provide all three services.

"We invested in Carzonrent because of its uniquebusiness proposition - it is present across the value-chain inpersonalised transportation. We prefer to invest in companiesin niche segments," Srinivas said.

It has an operating fleet-size of 6,200 cars with apan-India footprint and clientele covers corporate