Investment Status: Exited
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Ocean Sparkle is India's leading provider of comprehensive port operation and management services. The company began operations in 1995, capitalizing on the opportunities thrown up by the privatization of the Port Infrastructure Sector in India. The company was promoted by marine professionals with vast experience in managing ports and terminals worldwide. The investment opportunity came to Ventureast through referrals made to the promoter, who directly approached the fund managers to pitch the idea.
Ventureast's APIDC Fund took to the proposition offered by the promoters, and funded Ocean Sparkle in 1997 at its startup stage. Ventureast worked closely with the company at the operational as well as strategic levels, constantly providing advice and guidance. Ventureast also provided debt funding at short notice when the company needed it. Ocean Sparkle continued to raise funds at very attractive valuations, and went on to grow and expand its operations considerably.
Ocean Sparkle maintains high standards of corporate governance, and has consistently fulfilled its commitment to investors. Currently, Ocean Sparkle is exploring a joint venture with an experienced offshore company to aid its entry into the offshore vessel supply market.
A first generation entrepreneur, Jairaj jas extensive marine experience, having worked with Great Eastern Shipping Co Ltd., Mobil Shipping Co (London), Novopan India Ltd., and Fishing Falcons Ltd.