TA Announces Strategic Growth Investment in Vastu Housing Finance
July 11 2024 - 12:30AM
Business Wire
TA Associates (“TA”), a leading global private equity firm,
today announced a strategic growth investment in Vastu Housing
Finance (“Vastu” or “Company”), a pan-India diversified lending
institution.
Founded in 2015, Vastu has grown to become one of the leading
affordable housing finance players in India. Vastu leverages its
proprietary technology and unique underwriting practices to deliver
financing solutions to bankable but under-served self-employed
customers across semi-urban and rural India. On the back of its
reach, technology and management expertise, the Company has also
built a fast-growing small business and used vehicle finance book.
With more than 230 branch locations in 13 states, Vastu has
established itself as a diversified retail lending player.
“We are excited to have TA on board as a valued, long-term
partner. Vastu has made great progress over the last few years
towards its vision of becoming a large, respected and institutional
retail lending franchise. We are confident that our association
with TA will further accelerate our growth journey,” said Sandeep
Menon, CEO and Founder of Vastu.
“Vastu is well-positioned to become a leader in the secured
affordable housing segment as well as continue its impressive
growth trajectory in the small business loans and vehicle finance
segments. We have tracked the Company for years, and have been
impressed by Vastu’s reach, strong credit underwriting principles
and tech-enabled approach. We look forward to our long-term
partnership with Vastu in its future journey,” said Dhiraj Poddar,
Managing Director at TA. “We believe there is significant
opportunity for expansion in the core segments in which Vastu
operates. We are excited to partner with Sandeep, the management
team and existing shareholders in supporting Vastu’s vision of
building a high-quality, mortgage-led retail lending company,”
added Adi Sharma, Managing Director at TA.
“Sandeep Menon and Sujay Patil have done an exceptional job in
building Vastu into a formidable franchise in the affordable
housing finance space. Their vision, coupled with strong execution,
has transformed Vastu into a category leader. We are pleased to
welcome TA as a partner as Vastu continues to scale to new
heights,” said Renuka Ramnath, Chairperson of Vastu and Founder, MD
& CEO, Multiples Alternate Asset Management.
Financial terms of the transaction were not disclosed.
About TA
TA is a leading global private equity firm focused on scaling
growth in profitable companies. Since 1968, TA has invested in more
than 560 companies across its five target industries – technology,
healthcare, financial services, consumer and business services.
Leveraging its deep industry expertise and strategic resources, TA
collaborates with management teams worldwide to help high-quality
companies deliver lasting value. The firm has raised $65 billion in
capital to date and has over 150 investment professionals across
offices in Boston, Menlo Park, Austin, London, Mumbai and Hong
Kong. For more information, visit www.ta.com.
About Vastu Housing Finance
Vastu Housing Finance Corporation Ltd (Vastu) is a
technology-led affordable housing finance player. Founded by
Sandeep Menon and Sujay Patil and backed by Multiples Alternate
Asset Management since inception. Over time it witnessed the
participation of Norwest Venture Partners, Creation Investments,
360 ONE Asset Management and Faering Capital, Vastu offers secured
long-tenor mortgage products to self-employed customers in
semi-urban and rural India through its proprietary technology
platform, thereby enabling a paperless experience and faster
turnaround time for customers. Vastu has a diversified liability
franchise comprising of more than 40 lenders who have continued to
support the Company, many of them since inception. In addition,
Vastu has also set up a subsidiary (Vastu Finserve), which focuses
on the small business loan and used vehicle finance segments. Vastu
has an experienced management team with a pan-India presence across
13 states in India. For more information, visit
www.vastuhfc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240710676129/en/
Maggie Benoit, Head of Communications, TA mbenoit@ta.com