[dropcap]I[/dropcap]n a bid to tap the unexplored segment of Non Residential Indians (NRI) market looking to invest in Indian startups, Red Ribbon Advisory Services, part of UK based Red Ribbon Asset Management Plc., has announced collaboration with Orbis Financial Corporation Limited for custodian and transaction settlement.
Aditya Kanoria, CEO, Red Ribbon Advisory Services, said: “We are confident that this partnership will help us tap newer geographies and build a solid investor base for our on-going and future projects as well.”
Red Ribbon currently has incubated 2 projects for which it looks to raise 60 crores collective. One is Modulex, a full fit-out steel modular buildings and another is Eco Hotels, a carbon neutral hotel brand.
Orbis will be responsible for end-to-end transaction and settlement of funds making it easier for NRIs to carry out investment on the Indian soil.
Jayakumar S Babu, CEO, Orbis, said, “We are excited about the partnership as it helps us expand our services beyond the listed securities.”
Red Ribbon promotes scalable projects that are incubated by investing its own capital in specifically chosen projects that meet their stringent selection criteria for incubation. Once a project is launched, an industry leader from the relevant sector is appointed as CEO to head the project and deliver the growth plan.
