The money from the Canadian pension plan’s late-stage venture and growth investment arm, Teachers’ Venture Growth (TVG), will help the Pune, India-based company grow its logistics platform. (The Logic)
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The money from the Canadian pension plan’s late-stage venture and growth investment arm, Teachers’ Venture Growth (TVG), will help the Pune, India-based company grow its logistics platform. (The Logic)
Talking point: The Ontario Teachers’ Pension Plan’s deal with Xpressbees, which reportedly values the company at about US$1.5 billion, marks TVG’s first investment in India. “India is a critical market” for its investment strategy in Asia, said Kelvin Yu, senior managing director for TVG, in a release. As my colleague Murad reported, other major Canadian pension plans are also investing in India, seeing opportunity in the transformation of its fast-growing economy. OTPP announced big plans several years ago for its Asia presence, planning to triple headcount and open new offices. It has since closed its Chinese equity investment team in April, amid rising tensions between Canada and China.
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