In a business deal of worth Rupees 75 Crore, indigenous private equity fund Gaja Capital has picked up minority stake in sports education and training company KOOH Sports, as reported in the Economic Times.
As per the deal, Gaja will invest a mix of Primary and secondary stake buy, where a few of the existing investors will make a part exit. The deal will mars as the Ninth investment of the Gaja capital from its third front.
Founded with an objective to offer Grassroots program at schools inculcating interest into the students though sports centres and other talent promotional acts, Kooh was instituted in 2010 by Susir Kumar and Prabhu Srinivasan. It stands for “Kids Out of Home”.
So far the programs under the cap of KOOH, has assisted more than 200,000 children through its sports centric efforts across India and UAE for the last four years.
“Youth Sports is a $20 billion business globally and we believe it to be at an inflexion point in India. As Indians move from watching sports to playing and training for competitive sports, there is an opportunity to create a valuable performance sports platform,” said Gopal Jain, managing partner at Gaja Capital. He refused to share further details.
In the wake to provide sports management services to several schools and corporates, SportzVillage, the Gaja Capital-owned sports education provider will take care of KOOH Sports.
KOOH Sports last raised $2.2 million in a funding round led by HDFC Holding, along with participation from other investors including, Faering Capital and Elevate Sports, in October 2016. It also counts Tata Consultancy Services (TCS), among its investors.
Among its notable investments include Massive Restaurants, Chumbak, and an online brand store for women, Kinara Capital, EuroKids, and edtech startup Educational Initiatives.