NYLIM Jacob Ballas India Invests INR500 Million in Adlabs Entertainment (Asia)
Source: Asian Venture Capital Journal | Author(s): Andrew Woodman
NYLIM Jacob Ballas India, a vehicle co-owned by New York Life Insurance Company and private equity advisory firm Jacob Ballas Capital India, has invested INR500 million (approximately US$8 million) in a pre-IPO financing round for India-based theme park operator Adlabs Entertainment. The company, which owns the Adlabs Imagica theme park, received approval for its IPO from the Securities and Exchange Board in October 2014 and is looking to raise more than INR4 billion (approximately US$65 million) in the offering. Adlabs Entetainmnet had previously raised INR1.4 billion (approximately US$23 million) in August 2013 from venture capital firm ICICI Venture.