Mumbai-based private investment firm Alpha Capital has invested Rs. 80 cr ($11.5 mn) in women’s ethnic and casual wear label Shree, whose owner SHR Lifestyles Pvt. Ltd will spend the money to expand its reach in existing markets and penetrate new regions, especially in South India. The company is run by the husband-wife duo Sandeep and Sheetal Kapoor.
Started in 2009, SHR Lifestyle primarily operates through its stores in North India with a few outlets in Madhya Pradesh, Rajasthan, Gujarat and Maharashtra. It also sells online. For Alpha Capital, founded by Vishal Ootam and Vivek Anand and backed by Sat Pal Khattar of Singapore’s Khattar Wong group, Darshan Patel of Vini Cosmetics, former Infosys finance Chief TV Mohandas Pai and Manipal Group Chief Executive Officer Ranjan Pai, this is the second known deal in 2019, after it reinvested in existing portfolio company InCred.