Pune-based Xpressbees, a logistics company, has secured funding from TVG to support its future plans. This investment adds TVG to a list of investors in Xpressbees, which includes Blackstone Growth, TPG Growth, ChrysCapital, Khazanah Nasional Berhard, Alibaba Group, Elevation Capital, Investcorp, Norwest Venture Partners and Gaja Capital.
Toronto-based TVG is a late-stage venture and growth equity investment firm that is part of the Ontario Teachers’ Pension Plan Board (Ontario Teachers’). Ontario Teachers’ is a global investor with assets worth USD 249.8 billion as of 30 June, 2023.
The financial advisory for this transaction was provided exclusively by Avendus Capital.
This marks Ontario Teachers’ first investment in India through the TVG platform. Ontario Teachers’ invests in a diverse range of assets, including public and private equities, fixed income, credit, commodities, natural resources, infrastructure, real estate and venture growth, across more than 50 countries. The plan has around 336,000 working members and pensioners.
Xpressbees claims that it operates in 5,000 cities and towns, covering over 20,000 pin codes, and delivers more than 1.5 million packages every day. The company has over 100 hubs across India.
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