Sports fund invests in SMAAASH

FW Sports Investment Fund (FSIF), a Mauritius-based private equity fund, has acquired a significant minority stake in Mumbai-based Smaaash Entertainment (SMAAASH). This is the first round of private equity funding in the company. SMAAASH's first such sports-based entertainment centre was started in 2012 in Mumbai, home to cricket, football and racing. The company is promoted by serial entrepreneur Shripal Morakhia, who had earlier founded SSKI & ShareKhan. Sachin Tendulkar and STAR India have been associated with this venture from its inception. "Our plan is to open multiple centres across India and globally over the next couple of years, and FSIF's involvement will help us immensely with our global plans," said Morakhia, founder-director. Tendulkar, a strategic investor, said, "The advanced simulators at SMAAASH are fascinating and are very close to real life experience. Sporting enthusiasts can leverage the technology at SMAAASH to harness their skills and gain experience of challenges faced on the field." Ajay Shah, the partner at EY India who led the transaction, said "The Indian sports-based entertainment industry has grown rapidly over the past few years, driven by an increase in discretionary spending ability of the consumer."

Helion invests Rs 25 cr in RapidValue

Helion, the India-focused venture fund with over $600 million under management, has announced a series A investment of Rs 25 crore in RapidValue, an enterprise mobility company that counts several Fortune 500 companies as its customers. The company plans to use the funds to grow and strengthen delivery capabilities.

Axon Partners invests in iYogi

International investment firm Axon Partners Group has invested in iYogi, which provides on-demand tech support for consumers and small businesses, bringing the total raised so far in this series E financing round to $28 million. The fund will help iYogi grow in Latin America.

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