US hedge fund investment brings recent finance in India’s B9 Beverages to about US$130m
Asia-focused US hedge fund manager Tiger Capital Pacific has acquired a nearly 4% stake in India’s B9 Beverages for about US$25 million. The investment comes as B9 Beverages, the parent company of Bira 91 beer and The Beer Cafe chain, is gearing up for its initial public offering (IPO).
Tiger Capital’s investment values Bira 91 at around US$625 million. The hedge fund is headquartered in New York with an additional office in Hong Kong. It primarily invests through both long and short Asia-related equity investments.
B9 Beverages has secured about US$130 million in investments over the past 18 months, including US$25 million recently invested by Japanese beverage giant Kirin Holdings, which now holds about 20% of the company stock.
Other significant investments in B9 Beverages have come from Japan’s MUFG Bank, which contributed US$10 million in March of the previous year, and from Sequoia Capital and Sofina, which provided US$20 million in bridge financing to bolster the company’s growth initiatives.
B9 Beverages CEO and founder Ankur Jain said Tiger Pacific Capital’s investment is vital in leveraging strategic partnerships and financial support across different regions. Since its founding in 2015, B9 Beverages has quickly risen through the ranks to become a significant player in the Indian market.
With five breweries spread across India and distribution of Bira 91 in at least 18 countries, the company has made impressive strides. B9 Beverages boasts an 11% market share in India’s premium beer segment, highlighting the company’s successful positioning and brand recognition.
