Fosun International : Acquires Minority Stake In Delhivery

May 23, 2017. Fosun announced that it has acquires minority stake in Delhivery Private Limited, India's largest third-party supply chain services company focused on digital e-commerce. Fosun's investment is led by Fosun Group's China Momentum Fund L.P. It will be Fosun's first overseas investment in the logistics sector. Carlyle and Tiger Global also invested capital in this round. The combined investment is more than US$130 million. With this latest round of fundraise, Delhivery will further strengthen its leading position and expand market influence.

Founded in 2011, Delhivery started operations by providing express delivery for e-commerce clients. Since then it has grown to become one of India's largest third party logistics solution providers. Its services include express parcel delivery (domestic and cross-border), freight (LTL and FTL), multi-channel order fulfillment, channel management & integration and reverse logistics. The company uses technology and data sciences to provide fulfillment solutions to over 2,500 e-commerce companies, 100,000 SMBs and 150 enterprise customers in India. It is present in over 950 cities and 9,250 pin codes through its network.

Mr. Guo Guangchang, Chairman of Fosun Group, said, 'Fosun holds a positive view on the future development of India in the long term. We believe the improvement of India's infrastructure and the rapid growth of e-commerce will lead India's logistics sector towards a promising and bright future. Fosun is delighted to partner with Delhivery and expect to leverage our China experience in the logistics sector to help strengthen Delhivery's leading position in India.'

Mr. William Tang, Global Partner of the Fosun Group and President of the China Momentum Fund added:'We have been very impressed by the strategic vision and strong execution capabilities of the Delhivery management team. We also see the increasing demand from India businesses on technology and service levels that Delhivery is well-positioned to lead the innovation in the sector. Through this partnership, Fosun will connect our China resources with Delhivery, helping the company to grasp more future opportunities.'

Sahil Barua, CEO & Co-Founder of Delhivery Private Limited, said, 'We are honored and delighted to bring on Fosun as a new partner in our journey towards becoming India's leading fulfillment Services Company for digital commerce. We believe India's businesses are just discovering the transformative power of technology and its ability to dramatically alter the amount of control and visibility they have over their operations. A new generation of iconic Indian companies will be created in the next few years and with a leading global partner like Fosun, with deep experience in China, we are confident of becoming one of them.'

Fosun's China Momentum Fund ('CMF') is a $1bn private equity fund with a mandate to invest globally in businesses with strong brands, sound business models, unique contents, and deep industry expertise and leverage Fosun's resources to help them expand in their path to become global leaders.