Standard Chartered PE Arm Invests in Craftsman Automation (Asia)

Source: VCCircle  |  Author: Bruhadeeswaran R

Standard Chartered Private Equity Limited (SCPE), the investment arm of Standard Chartered Bank, has invested INR850 million (approximately US$15.4 million) in Craftsman Automation, an Indian manufacturer of precision engineered industrial components, for a minority stake. The company plans to use the capital to finance the expansion of its various manufacturing facilities. International Finance Corporation is an existing investor in Craftsman Automation.