Elephant Capital

Elephant Capital, established in 2007, is a London-based private equity firm with a focus on investing in growth companies across India. The company employs a value-based approach, leveraging its extensive network both within and outside India to drive the growth and value of its investments. Elephant Capital's portfolio spans various sectors, including hospitality, automotive, mobile payment services, building materials, education, children's entertainment, and clinical research. The firm is backed by the Burman family, one of India's leading business families, and has a proven management team. As of now, Elephant Capital has investments in seven portfolio companies and has successfully exited one.

Gaurav Burman

Managing Partner

3 past transactions

Air Works India Engineering

Series C in 2011
Air Works India Engineering, founded in 1951, is a diversified aviation services provider with a global presence across four continents. The company specializes in engineering, asset management, and safety and technology solutions tailored for commercial and business aviation sectors. It serves a wide range of clients, including global aircraft leasing companies, airlines, and leading original equipment manufacturers (OEMs). As one of only seven IATA-certified safety auditors, Air Works has established itself as a market leader in charter safety ratings and is recognized as the largest independent maintenance, repair, and overhaul (MRO) provider in India. With a strong foundation in the Indian market, the company has successfully expanded its operations internationally, leveraging its established infrastructure and management expertise. Air Works operates a federated structure of complementary businesses, allowing for independent management while adhering to common business principles. This approach not only addresses local customer needs but also enhances overall value and differentiation in the global aviation services landscape.

ClinTec International

Funding Round in 2010
ClinTec International Ltd. is a clinical research organization headquartered in Glasgow, United Kingdom. Established in 1997, the company specializes in providing clinical research personnel and support services to the pharmaceutical, biotechnology, and medical device sectors. Its offerings include project management, monitoring, data management, biostatistics, quality assurance, and drug development consultancy, along with clinical insourcing and patient recruitment services. ClinTec also delivers consulting on strategic planning, regulatory compliance, feasibility studies, and clinical trial training. The organization operates across various therapeutic areas, including oncology, neurology, cardiovascular diseases, psychiatry, infectious diseases, rheumatology, immunology, respiratory conditions, and gastroenterology. ClinTec has a global presence, with operations extending throughout Europe, India, the Middle East, Latin America, and Africa.

Amar Chitra Katha

Venture Round in 2010
Amar Chitra Katha Pvt. Ltd. is a prominent publisher based in Mumbai, India, specializing in comic books and magazines for both children and adults. Established in 1967, the company offers a diverse range of comics that encompass Indian epics, mythology, historical narratives, and regional stories, promoting cultural heritage and moral values. In addition to traditional print publications, Amar Chitra Katha has expanded its offerings to include animated and live-action adaptations, as well as digital content across various platforms such as television, film, and mobile devices. The company also provides a wide array of books covering topics like personal growth, academic subjects, and current issues, along with fun merchandise and subscription services. Amar Chitra Katha distributes its products through book retailers, small bookstores, online vendors, and its own website, making its rich storytelling accessible to a broad audience.
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