Vinsys, a global IT and software services and software company headquartered in Pune, has successfully completed its pre-IPO round. Major investors include overseas funds including NAV Capital Emerging Star Fund and xMultiplied, as well as domestic players such as Nova Global Opportunities Fund, Aegis Investment Fund and Sambhavnath Investments.
Earlier this month, the company reaffirmed its plans to list on the SME exchange and appointed Beeline Capital Advisors as merchant bankers. NAV Capital Emerging Star Fund (NAVESF), a Singapore-based Category I FPI, focuses on the Indian SME sector.
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Vineet Arora, Managing Director of NAV Capital Limited, highlighted his reasons for investing in Vinsys, saying, “A skilled workforce continues to be in demand around the world and, unlike in the past, the focus remains on upskilling and updating businesses and governments alike.” Vinsys, with its extensive range of training and certification programs, an unparalleled library of digital learning, diverse services and a celebrated heritage of 25 years in the industry, is well positioned to capitalize on this global opportunity.”
“We believe that Vinsys, backed by strong management and sponsors, is an emerging Indian multinational with offices around the world. As early stage investors in high quality Indian companies striving to dominate the global stage, we at NAV Capital aim to create significant capital appreciation for our investors,” added NAV Capital.
XMultiplied is a Switzerland-based private investment holding company, founded by Nikhil Chawla and Vivek Chandaria, investing alongside some of the world’s leading family-owned companies in the industrial, technology, luxury and entertainment sectors.
Commenting on the investment, Nikhil Chawla, co-founder of xMultiplied said: “India has transformed from a world back office to a development hub over the last decade. This shift has opened up tremendous untapped potential for corporate training, upskilling, certification and education. What sets Vinsys apart is its diverse business model. The company has also built a successful software development division and offers bespoke solutions for governments and businesses.”
“We at xMultiplied are excited about the opportunity to benefit from the AI-based digitization of Indian private and state-owned companies. Vinsys’ global expansion agenda is a huge opportunity and we look forward to sharing its story of creating value in the future. At XMultiplied, we take great pride in supporting industry-leading management teams with a proven track record of execution. Our investment in the Vinsys story underscores that enduring belief,” said Chawla.
Vikrant Patil founded Vinsys as a specialized training center for IT customers. Over time it grew to become the second largest corporate training company in India. Vinsys is proud of its team of over 800 professionals who are certified by major technology companies and institutions including IBM, Oracle, Microsoft, Autodesk and Cisco.
The company offers tailored courses for critical sectors such as BFSI, telecom and government departments where IT and process training is vital. Leveraging its proven success over two decades and strong relationships with customers and suppliers, Vinsys operates in eight countries: UAE, Oman, Malaysia, Singapore, Nigeria, Kenya, UK and USA.
With a track record of training over 1 million professionals worldwide, Vinsys is now focused on doubling its growth through acquisitions, particularly in corporate training and digital learning platforms.
The company is actively seeking organic growth opportunities to expand into new markets including the US and UK. In addition, it is consolidating its position in the Middle East.
As part of its expansion plans, Vinsys plans to open its corporate headquarters and training center in Saudi Arabia by the end of the second quarter. For the year ended 31st March 2023, Vinsys achieved Rs. 157.30 crore and net profit of Rs. 16.02 crore.
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