While the team is actively evaluating investment opportunities, keeping in mind the market timing and scenario, the first investment of ARYSS is in the education industry as a greenfield venture specializing in Private Banking, Wealth Management and Financial Services education. This education venture will set up wealth management and financial services education centres across geographies to impart quality education through accredited public and private programmes.
The team had joined the Dawnay Day AV Group in India to set up its financial services business as entrepreneurs. As the financial services operations grew rapidly and opportunities arose across other sectors, this management team was given the additional task of mirroring all the Dawnay Day UK businesses in India, including finding investment opportunities in Real Estate and Private Equity.
The group’s investments in India from mid 2006 till June 2008 included a research outsourcing business which was a joint venture under the name Dawnay Day AV Analytics Private Limited, and a hotels development and management business. After initial discussions with existing leading players in the hospitality industry, it was decided in June 2006, to go greenfield rather than pay high valuations for goodwill. Since then, this team has successfully completed the acquisition of 3 land parcels in Ahmedabad, Pune and Jaipur for Dawnay Day’s 4 star hotel chain.
Further, this team was in the process of identifying joint venture partners for an AMC business, for which the in-principle license from SEBI, the Indian Securities market regulator, was received. They were also in the midst of penning a JV with a gallery owner for an Art Auction business.
Post the July 2008 financial crisis at Dawnay Day, this team was instrumental in identifying potential suitors, for both the financial services and hotels businesses, successfully closing the deals and smooth handing over to the respective new managements.
The financial services business was sold to New Silk Route, a US based $1.4 bn. Private Equity fund focused on growth capital investments in Asia. The hotels business was sold to the Duet Group of UK.
