Ontario Teachers' Pension Plan invests in Kogta Financial to drive growth and expansion
Ontario Teachers’ Pension Plan Board has acquired a significant minority stake in Jaipur-based NBFC Kogta Financial for $148m, according to The Economic Times.
The funds raised will serve as primary capital to drive growth across Kogta’s product offerings and expand its regional presence. The investment will also provide partial exits for Kogta’s existing institutional investors, Morgan Stanley and Creador.
As part of the investment, Rahul Mukim, director of Private Capital, India, will join Kogta’s board as the nominee of Ontario Teachers’ Pension Plan.
Deepak Dara, senior managing director and head of India for Ontario Teachers’ said, “Our investment in Kogta underscores our commitment to identifying and backing high-growth opportunities in India’s vibrant financial services sector."
Kogta focuses on the large and underserved vehicle finance and MSME loans market. The company manages assets worth ₹48m across commercial vehicles, passenger vehicles, tractors, construction equipment, and MSME loans.
