Beenext eyes early bets in niche manufacturing

India's export market was dominated by large firms with captive demand, which limited the scope of growth

- Sowmya Ramasubramanian

Singapore-based venture capital firm Beenext is stepping up its India bets with a focus on manufacturing, especially textiles and aerospace components, as it looks to tap into the country's growing supply-chain strength and agility. Partner Anirudh Garg told Mint his firm is evaluating several deals and expects to close some in the coming months, buoyed by the traction seen in portfolio companies such as Whizzo, Scimplify, and Mini Mines.

Whizzo is into textile manufacturing, Scimplify in chemical manufacturing for pharmaceuticals, agrochemicals and fragrances, while Mini Mines is in the cleantech space.