India Venture Trust – Fund I, a scheme of IndiaVenture Trust ("IndiaVenture") subscribed to compulsorily convertible preference shares of Vardhman Chemtech Limited for INR 700 million (~USD 14 million).

Nishith Desai Associates, acted as legal advisor to IndiaVenture Trust for this Transaction.

Vardhman Chemtech Limited is engaged in the business of manufacturing of bulk drugs, intermediates & fine chemicals in the isoxazoles segment of penicillin. The company has been serving Indian customers for quite a long time. The company has appointed a dedicated marketing team to tap the opportunities available at the global level. The company targets near 100% growth in exports in the coming years.Mere confirming to the quality standards set is not our aim, but it is to continuously improve in quality, beating the standards in place. The company is on a spree to increase its manufacturing capabilities.