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Venture Capital
gticapital.com

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Investments

22

Portfolio Exits

3

Funds

1

About GTI Capital

GTI Capital is a venture capital firm that focuses on early-stage technology companies.

GTI Capital Headquarter Location

255, Saint-Jacques Street 2nd Floor

Montreal, Quebec, H2Y 1M6,

Canada

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Latest GTI Capital News

Auto-parts maker Sandhar Technologies gains on trading debut

Apr 2, 2018

Auto components maker Sandhar Technologies Ltd made a positive debut on stock exchanges on Monday, with its shares listing at a 4% premium to the issue price. Shares of Sandhar Tech began trading on the BSE at Rs 345 apiece, compared with the public offer price of Rs 332 apiece, stock-exchange data showed. The BSE’s 30-stock benchmark Sensex was 0.15% higher in morning trade. Sandhar now commands a market capitalisation of Rs 2,064 crore compared with the Rs 1,998.33 crore valuation it sought via the initial public offering. The Gurgaon-based company, which was backed by private equity firm GTI Capital, is the 10th firm to list on the main board of the bourses in 2018. Five of the previous nine firms had gained on debut. Sandhar joins over 50 auto parts makers on the stock exchanges. These include Minda Industries Ltd, JBM Auto Ltd, Motherson Sumi Systems, Bharat Gears and GNA Axles Ltd. Endurance Technologies Ltd was the most recent auto component maker to go public. The company’s shares listed on the bourses in October 2016 with 37% gains on debut. Its IPO was subscribed nearly 43 times. Sandhar’s IPO received strong investor turnout despite volatile markets. The IPO was subscribed a little over six times. The IPO comprised fresh shares worth Rs 300 crore while GTI Capital sold its entire stake. GTI Capital likely made high returns from its bet. On 13 March, three days ahead of the IPO, Akash Bhansali of Enam acquired a 4.21% stake (after adjusting for fresh shares in IPO) from GTI Capital. The deal was worth Rs 80.51 crore ($12.4 million), helping the PE firm fully exit its near five-and-a-half year investment. The company had refiled its draft proposal on 8 December 2017. It had received regulatory clearance on 1 March. When Sandhar Tech had proposed an IPO two years ago, GTI Capital had offered to sell up to 5.11 million shares. The company had received a green signal from the capital markets regulator, but could not execute its plans. Merchant bankers ICICI Securities and Axis Capital managed the IPO. Sandhar was incorporated in 1987 by first-generation entrepreneur Jayant Davar. He is the co-chairman and managing director of the company. The company focuses on safety and security systems in vehicles. It has 29 factories across eight states in India, besides two facilities in Spain and one in Mexico. It has one assembly and packaging centre in Poland. The company is setting up eight more units in India. Sandhar had commenced operations as a supplier of sheet metal components to Hero MotoCorp, formerly Hero Honda Motors Ltd. Its existing clients include Royal Enfield, Honda Cars, Tata Motors, Ashok Leyland, Caterpillar and Bosch. It caters to 79 Indian and global vehicle manufacturers across various segments. It makes 21 categories of products catering to different industry segments, including two-wheelers, passenger vehicles, commercial vehicles, off-highway vehicles and tractors. The company reported consolidated net profit of Rs 34.57 crore for the six months ended September 2017 on net consolidated revenue (from operations) of Rs 989.40 crore. Like this report? Sign up for our  daily newsletter  to get our top reports.

GTI Capital Investments

22 Investments

GTI Capital has made 22 investments. Their latest investment was in Webklipper Technologies as part of their Series A on August 8, 2012.

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GTI Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/21/2012

Series A

Webklipper Technologies

Yes

8/21/2012

Series B

Brattle Foods

Yes

8/18/2012

Unattributed VC

WebEngage

$0.5M

Yes

1

11/3/2011

Unattributed VC

Subscribe to see more

$99M

Subscribe to see more

10

2/21/2011

Series A - II

Subscribe to see more

$99M

Subscribe to see more

10

Date

8/21/2012

8/21/2012

8/18/2012

11/3/2011

2/21/2011

Round

Series A

Series B

Unattributed VC

Unattributed VC

Series A - II

Company

Webklipper Technologies

Brattle Foods

WebEngage

Subscribe to see more

Subscribe to see more

Amount

$0.5M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

1

10

10

GTI Capital Portfolio Exits

3 Portfolio Exits

GTI Capital has 3 portfolio exits. Their latest portfolio exit was Diablo Technologies on January 17, 2019.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

1/17/2019

Asset Sale

$99M

2

10/27/2014

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

10/15/2013

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

Date

1/17/2019

10/27/2014

10/15/2013

Exit

Asset Sale

Acquired

Acquired

Companies

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

Acquirer

Subscribe to see more

Subscribe to see more

Sources

2

10

10

GTI Capital Fund History

1 Fund History

GTI Capital has 1 fund, including GTI V.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/31/2001

GTI V

Early-Stage Venture Capital

Closed

$65M

1

Closing Date

12/31/2001

Fund

GTI V

Fund Type

Early-Stage Venture Capital

Status

Closed

Amount

$65M

Sources

1

GTI Capital Team

6 Team Members

GTI Capital has 6 team members, including current Senior Partner, Roger Jenkins.

Name

Work History

Title

Status

Gaurav V. Burman

Founder

Current

Gaurav Dalmia

Founder

Current

Madhav Dhar

Founder

Current

Jonathan Schulhof

Founder

Current

Roger Jenkins

Senior Partner

Current

Name

Gaurav V. Burman

Gaurav Dalmia

Madhav Dhar

Jonathan Schulhof

Roger Jenkins

Work History

Title

Founder

Founder

Founder

Founder

Senior Partner

Status

Current

Current

Current

Current

Current

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