RVCF to invest Rs 15 crore in PR Packaging

JAIPUR: Jaipur based regional fund Rajasthan Venture Capital Fund (RVCF) has invested Rs 15 crores PR Packagings Limited (PRP), a packaging company in Faridabad. The funding is part of its Rs 150 crores SME Tech Fund targeted at investing in emerging small and medium enterprises.

RVCF chief executive officer Girish Gupta told ET that PRP produces high quality Folding Cartons including Printed Mono Cartons, Fluted Boxes, Pouches, Brochures, Leaflets etc. “It is providing packaging solutions to big brands in electronics, pharmaceuticals, cosmetics, automobile industries and food chains,” he said.

The Indian packaging industry has been growing at 15% year on year basis. With demands arising from growing food processing industry and from the pharmaceutical industry, it is likely to grow at 18-20% over the next five years.
The company, which largely operates in northern India, plans to plans to expand and widen its customer base by enhancing its capacity, exploring new packaging opportunities and widen its product portfolio through the fresh investment. “It is also planning to foray into the manufacturing of Flexible tubes, laminate tubes, seamless tubes,” Gupta said.

Rajasthan Venture Capital Fund is Rajasthan’s first venture capital fund, mandated to operate on pan-India basis. It manages two SEBI registered domestic venture capital funds - RVCF Fund I & SME TECH FUND – RVCF Trust II supported by 11 investors including Rajasthan State Industrial Development and Investment Corporation (RIICO) and Small Industries Development Bank of India (SIDBI) as lead investors.

The companies set up with help from this fund include Natural Technologies, Cyber Futuristics, Hiteshi Herbotech and Harbinger TechAxes. Companies such as Home Store (India) Ltd, Liqvid e-Learning Services and Escotoonz Entertainment, which are based in the NCR region, have also benefited from this fund.