India Industrial Growth Fund

Frontline Strategy's IIGF buys stake in Tejas Networks, in a secondary transaction

  • India Industrial Growth Fund's first investment in the telecom technology space
  • The company is an IP-based telecom OEM and makes next-generation optical networking products
  • Tejas is a global top-10 OEM in its segment and the second-largest player in India

Mumbai, 21 August 2009:India Industrial Growth Fund (IIGF), a private equity fund managed by Frontline Strategy Limited, has made a new investment in Tejas Networks Limited, an optical networking equipment manufacturer in India. This is IIGF's third and Frontline's 18th investment in India. IIGF's other investments are Krishna Saa Fabs Private Limited (a galvanizing/structural engineering firm) and Shriram SEPL Composites Private Limited (a manufacturer of glass reinforced polyester composite pipes).

Existing investors in Tejas include Battery Ventures, Cascade Capital Mgt, Mayfield Funds, Intel Capital, Goldman Sachs and Sandstone Private Investments. IIGF acquired this stake through a secondary transaction.

About Tejas Networks Tejas Networks is a leading enabler of high-performance telecom infrastructure by developing innovative carrier class communications equipment. Tejas Networks has witnessed enormous success with telecom service providers globally, by helping them build networks that efficiently aggregate bandwidth at the edge of the network, thereby offering substantial savings in capex and opex for its customers, in addition to offering many new revenue-generating, data services.

About Frontline Strategy Founded in 2000, Frontline Strategy Limited (www.frontlinestrategy.com ) is an asset management company with primary focus on private equity investments. Prominent investments of Frontline Strategy's first fund vehicle, Strategic Venture Fund (Mauritius) Ltd, include: CBay Systems & Services, Inc, an early-stage Frontline Strategy investment, and the largest provider of outsourced knowledge processing services for the global healthcare industry, after the acquisition of MedQuist, Inc; Astra Microwave Products, a manufacturer of high-end microwave and RF-based components for defense, space and civil telecom applications; Titagarh Wagons, India's leading private manufacturer of railway wagons; Alfa Transformers, a manufacturer of power, distribution and furnace (specialty) transformers; Shilpa Medicare, among India's leading specialty pharmaceutical manufacturers, primarily focusing on custom synthesis and oncology APIs..

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