The family office of Lahari Music invested an undisclosed amount in two startups. With this move, Lahari Music, who are known as one of the South India’s record labels aims to diversify their businesses beyond music. Stakes acquired by the company are undisclosed. CreedCap Asia Advisors, a Boutique investment banking firm was the adviser for this transactions.
A Paris-based global dating application, Happn and a fintech platform for home buyers and developers, WhatsLoan bagged the investment. Co- founder of DCTex Furnishings, a home furnishings company, Nimish Arora also participated in the Happn deal.
Commenting on the development, Chandru Kumar, Director, Lahari Music said “We have been in the music industry for a very long time and we realised we need to branch out, not just stick to music.”
As per a media report, Company will aim for an equity stake of 26% or more in startups where it invests. For Lahari, two more investments are in the pipeline this year. If sources to be believed, one in an Indian company that makes electric chargers for cars and the other in a media company.
The family office usually invests between $500,000 and $10 million across a wide array of sectors, including consumer and media.
Co-founded by Didier Rappaport in Paris in 2014, Happn has presence in 40 major cities, including London, New York, Sao Paulo, Madrid, Sydney and Moscow. Talking about the its competitors in India, Startup compete with TwoMangoes, Woo and TrulyMadly. Happn connects people based on their real-life experiences and this is what differentiate it from its competitors.
Owned by Bengaluru-based Home Equity India, WhatsLoan is a loan-as-a-service platform which was founded in 2016 by former Axis Bank mortgage group head Timmana Gouda D and Vidya TG.
The company plans to use freshly infused funds towards building its technology platform.