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Business Upturn
6 days ago
- Business
- Business Upturn
Mumbai Pav Co. Raises Pre-Seed Investment from Campus Fund to Bring Mumbai's Street Food to a Pincode near You
Bengaluru, Karnataka, India: Mumbai Pav Co., a modern quick-service restaurant brand bringing Mumbai's street food for the mass-premium segment, has raised pre-seed round led by Campus Fund, along with participation from Karan Bhagat & Yatin Shah of 360One, Mohit Gulati of ITI GO, Ankit Agarwal & Varun Limaye – Founders, Mesa School of Business, Siddharth Dungarwal – Founder Snitch, Anand Sinha – Ex-CEO of Zomato Gold & LeapClub , along with other notable angels as part of its Pre-Seed round. The investment will accelerate the brand's expansion across India, double down on kitchen innovation, and strengthen its mission of delivering hygienic, iconic Mumbai Style street food through an omni-channel model. Co-founded by Tanay Agarwal and Jash Arora, Mumbai Pav Co. blends street authenticity with modern QSR standards. The duo met at Mesa School of Business, where their shared passion for Indian food, entrepreneurship, and operational excellence sparked the idea for the venture. Tanay brings operational and customer first insights from his time helping scale his family owned fine-dine restaurant chain Tuk Tuk Thai, while Jash is a professionally trained chef with experience in India's Top Restaurant – Masque in Mumbai, Le15' by Chef Pooja Dhingra and a Michelin-starred kitchen in Sweden. Together, they're building a scalable, standardized model for India's favorite comfort food. 'Mumbai Pav Co. is not just serving food, it's distilling nostalgia, hygiene, and convenience in a format fit for the next billion consumers,' said Richa Bajpai, Founder & CEO of Campus Fund. 'We're thrilled to back a founding team that's as obsessed with taste as they are with customer first experience and execution. They're elevating street food into a culturally iconic QSR brand .' she added. Since launching in Bangalore in August 2024, the brand has fulfilled a whopping 60,000+ orders, all from a small 250 sqft. store in JP Nagar, Bangalore, with ratings of 4.5+ on both Swiggy and Zomato. They achieved store-level profitability within just 35 days of store launch, unheard of in the industry. The company has multiple stores in its pipeline, starting from Koramangala and Sarjapur in Bangalore. Their customer repeat rate is also an outstanding 50%+. India's food services market, pegged at Rs. 5,50,000 crore+, is undergoing a shift. Urban consumers increasingly demand authentic, hygienic, value-driven Indian QSR options. Mumbai Pav Co. addresses this whitespace with a consistent, customer-first offering positioned as 'India ka Fast Food,' aiming to grow across Indian metros, Tier-2 cities, and eventually global markets with significant Indian diaspora. 'Mumbai had its fast food way before Western brands came to India and commercialised their Western menu. Our vision is to take the streets of Mumbai to Global Markets and represent India ka Fast Food,' said Tanay Agarwal, Co-founder and CEO. 'Campus Funds' backing gives us not only capital but conviction to build this with scale, heart, and hustle.' he added. With the funds, Mumbai Pav Co. plans to rapidly set up 15+ outlets across formats in Bengaluru this year (cloud kitchens, malls, tech parks and high street stores), focus on standardised operations, test new menu categories, and explore early partnerships in the quick commerce, franchising and B2B delivery space. Mumbai Pav Co. joins Campus Fund's growing portfolio of student-led ventures reimagining the future of India's consumer economy, driven by the best talent out there, building The Indian Dream. Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same.
Yahoo
27-05-2025
- Business
- Yahoo
India's 360 One plans to set up investment banking vertical
Indian wealth management company 360 One is set to expand its investment banking operations, reported Financial Express. The firm aims to build the investment banking vertical through Batlivala & Karani (B&K), a brokerage it acquired in January. B&K is known for its institutional brokerage. Mumbai-based 360 One, already holding an investment banking licence from SEBI, plans to expand B&K's small merchant banking operations into a full-service investment bank. The company, which has R5.79tn ($68bn) in assets under management, is also on the verge of closing four investment funds, according to a senior executive. These include a healthcare fund ranging from Rs7bn-Rs10bn, an angel fund of Rs5bn targeting domestic startups, a multi-asset fund for listed stocks, and a private credit fund of $8bn. The angel fund has already invested in a gaming company and a chilli sauce maker. In 2024, 360 One closed a R40bn secondary fund focused on the private equity landscape. The firm is majority-owned by Bain Capital since 2022 and has offices in Dubai and Singapore. As of March, foreign portfolio investors hold 67.2% of 360 One, with mutual funds owning 6.4% and total domestic institutional investor ownership at 8.5%. The company was listed on the BSE and NSE in 2019. In 2024, it acquired ET Money from Bennet Coleman and raised Rs22.5bn through a qualified institutional placement. Managing director and promoter Karan Bhagat holds a 14.2% stake, with half pledged. Investment banking in India is currently dominated by foreign banks and brokerages such as Citi, JP Morgan, Deutsche, Morgan Stanley, and UBS, with Kotak, SBI Caps, Axis Capital, JM Financial, and Edelweiss as key domestic players. Founded in 2008, 360 One made a deal with Swiss banking giant UBS in April, facilitated by Bain Capital. The firm agreed to acquire a Rs260bn wealth portfolio from UBS for $36m, while UBS agreed take a nearly a 5% stake in 360 One for $220m. The integration of the UBS wealth portfolio with 360 One is pending regulatory approval. Last week, UBS sought approval from the fair trade regulator CCI to acquire the stake in 360 One. "India's 360 One plans to set up investment banking vertical " was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Upturn
22-04-2025
- Business
- Business Upturn
UBS to invest Rs 2,112 crore in 360 ONE WAM via warrants; strategic wealth tie-up announced
By News Desk Published on April 22, 2025, 08:05 IST Indian wealth management space, 360 ONE WAM Limited, one of India's largest independent wealth and asset management firms, announced a strategic collaboration with Swiss-based global financial powerhouse UBS AG. The partnership aims to jointly offer wealth management services to Indian clients both domestically and globally. As part of the agreement, 360 ONE WAM will acquire the India onshore wealth management business of UBS AG, including its stock broking, distribution, and portfolio management services, for a total cash consideration of ₹307 crore. The transaction covers active assets under management worth approximately ₹26,000 crore as of December 31, 2024. In parallel, UBS will also invest in 360 ONE WAM by subscribing to 2.05 crore warrants through a preferential allotment, priced at ₹1,030 per warrant, reflecting a 14% premium to the 3-day VWAP. This investment represents a 4.95% stake in the company post-conversion, subject to shareholder and regulatory approvals. The total investment by UBS will be ₹2,112 crore. The deal also includes multiple definitive agreements: Collaboration Term Sheet (CSA-TS) for strategic cooperation Securities Subscription Agreement (SSA) for warrant issuance Business Transfer Agreements (BTA) covering stock broking, portfolio management, and distribution business Transfer and Assignment Agreement (TAA) for the residual loan portfolio All business transfers will be executed via a slump sale basis through 360 ONE's subsidiaries, namely 360 ONE Distribution Services Ltd., 360 ONE Portfolio Managers Ltd., and 360 ONE Prime Ltd. Commenting on the development, Karan Bhagat, MD & CEO of 360 ONE, said, 'This collaboration marks a significant milestone in our journey to bring globally integrated wealth solutions to Indian and global clients. We aim to combine our domestic strength with UBS's international expertise to deliver unmatched value.' Jin Yee Young, Co-Head of Global Wealth Management Asia Pacific at UBS, echoed the sentiment, saying the partnership will 'accelerate UBS's momentum in one of the world's fastest-growing wealth markets.' The transaction is expected to close within six months, pending necessary regulatory approvals, including those from SEBI, NSE, and the Competition Commission of India. 360 ONE WAM currently manages over ₹5.79 lakh crore (USD 68 billion) in client assets and serves over 7,500 Ultra-HNI and HNI families. This move further solidifies its position as a market leader in India's wealth management industry. Disclaimer: The above article is based on regulatory disclosures and company press releases. It does not constitute investment advice. Please consult your financial advisor before making investment decisions. News desk at
