Mumbai, November 12, 2026: ValueQuest, a Mumbai-based investment management firm overseeing approximately USD 3.31 billion across public and private markets, has committed a total of Rs 775 crore to TASE Global, Sagar Defence Engineering, and Rational Engineers through its Tristar Fund.
The investments cover sectors including precision engineering, indigenous defence technologies, and power infrastructure, reflecting ValueQuest’s strategy to support India’s role in global manufacturing and technology supply chains. The commitments are the result of an investment pipeline developed over the past 12 to 18 months, underpinned by thematic research and engagement with entrepreneurs.
Investments span defence, engineering and power
Sagar Defence Engineering, one of the recipients, specialises in unmanned and autonomous systems for maritime and other defence applications, targeting the growing demand for domestically developed defence technologies. Rational Engineers manufactures specialised copper winding conductors and insulation solutions for power and distribution transformers, serving critical electricity transmission and electrification needs. TASE Global operates as an integrated precision engineering and manufacturing platform in India and the United States, supplying global OEMs and Tier-1 suppliers in medical technology, aerospace, defence, and industrial sectors.
Backing India’s industrial transformation
Ravi Dharamshi, Founder and Chief Investment Officer of ValueQuest, said the firm sees opportunities for Indian companies to move beyond cost competitiveness and become globally relevant businesses. “India is entering a defining phase in its industrial evolution. Our ambition is to back businesses that do not merely benefit from India’s industrial transformation, but also have the potential to become leaders in shaping it,” Dharamshi said.
Aniket Dharamshi, Co-Founder and Managing Partner, added that the investments stem from years of research and long-term relationships with entrepreneurs. He noted, “Our focus is not on the pace of capital deployment, but on identifying the right businesses where we can build conviction and contribute meaningfully to their next phase of growth.”
ValueQuest’s private equity platform
The new commitments strengthen ValueQuest’s private equity platform, which manages over Rs 6,000 crore including co-investments. The firm is currently building out SCALE Fund II, its third investment vehicle, following its experience with SCALE Fund I.
Founded in 2010, ValueQuest Investment Advisors Pvt. Ltd. is based in Mumbai and is known for a research-driven approach to public and private markets.
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