HSBC private equity arm invests $60 million in Mumbai-based Avitel Studioz

BANGALORE: HSBC Principal Investments, the private equity arm of the HSBC Group, has invested $60 million for a minority equity interest in Avitel Post Studioz Limited, a Mumbai-based post-production and media entertainment technology company.

Avitel which has presence in Europe and the Middle East will use the money to finance its international growth and expansion plans.

"Our investment in Avitel demonstrates our ability and commitment to financing leading entrepreneurs as they expand on the international stage," HSBC Principal Investments managing director and head Heath Zarin said. "This investment is reflective of the Group’s focus on India, given the country’s strategic importance globally and to HSBC," he added.

He said in additional to the financial investment, they will leverage the HSBC Group's global reach to support Avitel's ambitions to take its services to a more international clientele. Avitel is a fast-growing media technology company, offering a comprehensive and innovative range of post-production services such as film archiving and restoration, stereoscopy and animation.

This is the second Asian private equity investment by HSBC Principal Investments during the last six months. It earlier invested in Hong Kong-based CS Logistics Holdings Limited.