Sandeep Goyal, Chairman of Mogae Media, who sold his 26% stake in Dentsu India in 2011, has raised Rs. 100 crores for a new fund which will be used to fund the acquisition of digital startups in India that have built brands, but are now struggling to raise funds for re-engineering or re-launch.
Sandeep is a former Chairman and JV Partner of Dentsu India, a leading advertising agency. He was also the Group CEO of Zee Telefilms Ltd.
With this new fund, he aims to make late stage investments in the Digital Media and Mobile Innovation verticals. He will also be investing in service sector startups, especially in the F&B, Logistics, E-commerce/M-commerce and Cab pick-up space (local mobility) with mobile enabled platforms.
Along with investing in startups, he also plans to play a strong role in mentorship and improving the unit economics of existing business models in the service sector.
Mogae Media, which has an investment from Renuka Ramnath’s Multiples PE is also keen to look at synergistic investments in the mobile space. Sandeep Goyal said,
Analytics, mobile ad serving platforms, programmatic buying on the mobile, mobile fulfillment and mobile targeting are areas that Mogae Media is keenly focused on. Any acquisitions or investments in this space are of interest to us immediately.
We are separately looking at companies who have created a solid brand but have burnt too much cash getting there. They now need an injection of both cash and rock solid experience for a good chance to survive. Outside of Mogae Media, some of my ultra HNI friends and I will partner in these investments.
However, Sandeep Goyal isn’t going to handle it all alone. While it has been revealed that an alumni of Harvard Business School, and former Country Head of one of the world’s largest telecom company is expected to join hands with him, his name is not yet out.
Sandeep Goyal launched Mogae Media in 2012 along with his wife Tanya Goyal after his stint with Densu India. Since launch, the company has established itself as one of the leading providers of integrated mobile marketing services, offering a range of mobile branding solutions – from simple outreach to more sophisticated solutions.