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| BYST Growth Fund - Portfolio Companies |
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Akshara Print Forms Pvt. Ltd: |  |
Akshara is a Chennai-based manufacturer of pre-printed business forms stationery such as invoices, carbonless sets, mark sheets, letter-heads etc. The company is promoted by Rajeshwari, a BYST JRD Tata award winning woman entrepreneur who has battled great odds to pursue her dream. Rajeshwari started her career at 17 as a data entry operator in order to supplement family income. Later, she began her own business trading and printing computer stationery despite stiff opposition from her family. Obtaining loans by mortgaging her personal property, she grew her business to a sizeable extent.
Initially, Akshara did not own its own production facility. Ventureast’s investment has helped Akshara purchase its own machinery, raised its profit margins and allowed the company to increase its turnaround time. Ventureast has also been instrumental in introducing several large corporate clients to Akshara. |
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Murugesan Silver Casting Works: |  |
Murugesan is a manufacturer of gold jewellery based in Chennai. The company was set up by Siva Kumar, an economically disadvantaged, barely educated entrepreneur born into a traditional community of goldsmiths. Siva learnt the art of making jewellery at the age of 15, and started an independent business with his brother at 20. Today, Murugesan has the capability to manufacture jewellery using both a handmade and a mechanized casting process. The company counts amongst its customers a number of gold jewellery wholesalers and retailers in Chennai.
Prior to investment, Murugesan borrowed raw gold from the market at exorbitant costs in order to manufacture jewellery. To obviate this reliance on borrowed gold, Ventureast made its investment in the form of gold, reducing interest costs and raising the company’s profit margins. Thus, unlike earlier, Murugesan now has the opportunity to re-invest its cash flows and expand its business. |
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Rex Miller Garments: |  |
Rex Miller Garments is a garment manufacturer serving retail and institutional clients in Tamil Nadu, India. Its promoter, Raja, started his career as an apprentice to a tailor after dropping out of school at the age of 13. Soon, Raja began his own tailoring shop, serving retail customers from his neighbourhood. Today, his enterprise supplies uniforms to a plethora of clients in the auto, FMCG and petroleum sectors and is well poised to become a regional leader.
The Fund Manager team has helped Rex Miller reach out to potential long-term partners in the pharma, healthcare and organized brand merchandising sectors. The team has also helped set up accounting systems and internal processes to manage growth.
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Studio Essential: |  |
Studio Essential is a unisex salon that provides a wide range of beauty and wellness services comparable to the best in Chennai and other metros. It was set up by cousins Rajesh and Dhayalan, who have both risen from humble, uneducated backgrounds to become hair and beauty stylists of local renown. Since starting out in their early teens working odd jobs, they gained more than a decade of experience working in established salons. Earning a reputation and a long list of dedicated customers owing to their skill, the cousins then opened Studio Essential, which grew quickly to compete with well known corporate salons in its locality.
With BYST Growth Fund’s equity-like investment, Rajesh and Dhayalan set up a second branch of their salon, and also added spa services to their offering. The fund manager has supported the promoters in establishing a brand image, improving their customer service and automating their Customer Relationship Management. With this new support system, Rajesh and Dhayalan aim to eventually open a chain of salons themselves, across South India.
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V Cube Automations: |  |
V Cube Automations flagship product is the water level controller (‘WLC’), a quintessentially Indian device that automatically turns off motors pumping water into overhead tanks when they are full. The company is run by Vaidhyanathan, an electronics hobbyist who dropped out of an college to set up his own electronics company. Despite a lack of formal training, he developed an original analog WLC design, manufactured the product and began selling it to households in Chennai. However, lacking financial support and business guidance, he was forced to shut his business due to bad debts. After gaining experience in sales for 10 years, Vaidhyanathan turned back to his WLC business. With a new digital design and an innovative distribution model that minimized working capital, he grew his business to USD 4,000 per month within 18 months of inception.
His company, V Cube Automations distributes five variants of WLCs through a network of 100 small retailers in Chennai. BYST Growth Fund’s investment will enable his business to increase its geographical coverage in Chennai. With the support of the mentor, a director of an industrial services firm, V Cube aims to double its revenues in one year.
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