Tata Opportunities Fund invests in Uber Technologies Inc.
Uber and Tata Opportunities Fund (TOF), the flagship private equity fund advised by Tata Capital, today announced that TOF will make a significant investment in Uber, the first such investment made by TOF in a global company with headquarters outside India and underscores the confidence in Uber. The partnership is a milestone for both entities and will help Uber expand its services and solutions in India by leveraging the Tata Opportunities Fund’s network within the wider Tata Group as well as externally. Uber launched in India less than two years ago. Today, the service is available in 18 Indian cities* -- more than in any other country outside the United States. With its current base of over 150,000 driver entrepreneurs and continued robust 40 percent month on month growth, Uber has quickly gained a significant market share in India of over 35 percent. Padmanabh (Paddy) Sinha, Managing Partner of TOF’s advisory team in India, said: “The Tata Opportunities Fund is delighted to s...