Two global private equity firms, Bessemer Venture Partners Trust (BVP, an affiliate of Bessemer Venture Partners) and New Vernon Private Equity have invested Rs 38 crore in Sarovar Hotels promoted by Ajay Bakaya and Anil Madhok. Sarovar Hotels (whose promoters own the famous Geoffrey's pub, the favourite haunt of Mumbai's stockbrokers and bankers) will invest a total of Rs 200 crore to develop a new budget category, Hometel, across India, (50 in five years) beginning with Bangalore, with Pune, Mumbai, Jaipur and Hyderabad being next on the agenda.Search for Jobs with Sarovar Hotels>
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