Warburg Pincus, a US based private equity company has associated with the former Tata Communications executive, Rangu Salgame of Princeton Growth Ventures to explore opportunities in media and telecom companies and to promote their private equity company among the Indian based companies. Salgame and Varoon Raghvan are the co-founder of Princeton Growth Ventures. The collaboration is looking forward to create a global telecom, media and technology platform. Previously, Salgame was the CEO of Growth Ventures and Service Provider Group at Tata Communications, so he is quite familiar with the media and communication thing.
Rangu Salgame, chairman and CEO of Princeton said, “The idea is to create an investment vehicle that will focus mainly on data, cloud and related new businesses. There are quality assets in both developed as well as emerging markets and our strategy would be to back them, recalibrate them. It could be distressed situations, firms that needed better focus or realign management and strategy. We seek to build a multi-billion dollar internet infrastructure platform of global scale by acquiring assets from or partnering with telecom and media companies and independent players”.
Warburg Pincus will invest ₹1900 Crore ($300 Million) in Princeton Growth to either acquire or back telecom and media assets and companies, to promote the company on global level and to create a vast network. The platform will focus on data centres and fast growing digital media services.
The platform will focus on businesses in geographies such as India, China, Southeast Asia, the Middle East, and Latin America. Warburg Pincus has its head quarter in New York and this is a global private equity firm focused on growth investing. According to the report, the firm has more than ₹250,000 Crores ($40 Billion) in Private Equity assets under management and the firm holds almost 120 companies.