Novistra Capital, a New York based boutique advisory, announced today that Mynd Solutions Pvt. Ltd. has secured capital from Mumbai based private equity firm SIDBI Ventures. Novistra acted as the exclusive financial advisor to Mynd for this transaction. Mynd will use this investment to further enhance its technology portfolio and to grow organically in India and the emerging markets. The investment has been structured as a combination of equity and convertible debt.
Mynd is a leading technology and business process outsourcing service provider focused on Finance & Accounting and Human Resources. The Company is headquartered in Gurgaon, India with offices across 20+ cities in India and the emerging markets. SIDBI Ventures is a subsidiary of the Small Industries Development Bank of India. This investment has been made from SIDBI’s India Opportunities Fund that focuses on Small and Medium Enterprises (SMEs) in India. SIDBI Ventures’ Vice President, Mr. Mahendra Lodha, will join the board of Mynd.