TIW Private Equity firm Indian Buyout Fund that focuses on the consumption-driven sectors has now acquired a majority stake in the Mumbai based digital platform management firm Digital Refresh Networks Pvt Ltd for $6 Million.
The company, as of now has a plan to utilize the proceeds from the investment to strengthen its expertise in the content creation and for acquisitions.
Mohit Ralhan, Managing Partner, and Chief Investment Officer, TIW Private Equity, said:
“Digital Refresh Networks has been able to acquire and retain quite a few marquee clients, which gives us a lot of confidence as far as business sustenance goes. We believe that the macro for digital consumption, driven by higher internet adoption and evolving consumer behaviour, is fairly solid. Significant value can be unlocked in this space by focusing on cost efficiencies around operating processes and through acquisitions.”
Digital Refresh Networks was founded by the Barin Mukherjee and Ravi Dubey in 2011. The digital marketing firm enables the delivery of brand objectives on the mobile, web, and social media through communication and commerce applications, customised digital solutions, and audio-video elements.
“Our vision is to build a digital-first communication and commerce company which provides better ROI for brands across all platforms. We intend to immediately acquire full-service capabilities in digital content creation and build competencies in platform and market-place management.”Ravi Dubey, Co-founder and Executive Director, Digital Refresh Networks
TIW Private Equity is a sector-agnostic fund, and has investments in the sectors across the media, FMCG, digital platforms, education, real estate, manufacturing, and financial services through the multiple funds. It also helps the entrepreneurs to improve their companies margin profiles.