Venture capital major SAIF invests Rs 80 crore in Kolkata-based jewellery retailer Senco Gold

Venture capital and private equity major SAIF Partners on Thursday said it has invested Rs 80 crore in Kolkata-based jewellery retailer Senco Gold Ltd.

SAIF manages over $1 billion of investments in India and the capital infusion will enable Senco Gold to accelerate its growth, and establish a pan India footprint, said a statement.

Senco Gold is one of the largest jewellery retail chains from Eastern India. Senco is present through 59 stores across India and aims to take the art of handcrafted jewellery in gold, diamond, platinum and modern jewellery to consumers across the country

“We have known the Senco Gold management for some time and have come to appreciate the high quality brand that the company has created. We have been impressed with Senco Gold’s stellar growth, the depth of the company’s network in East India, and the strong vision and leadership provided by the Sens. We are very excited about our partnership with Senco Gold and look forward to our journey together in creating a truly world class jewellery retail brand,” said SAIF Partner, Managing Director, Vishal Sood.

According Senco Gold Ltd, Executive Director, Suvankar Sen this investment will give a boost to its operations and increase pace of progress.