Paragon Partners said that it has been investing Rs 111 crore in Maini Precision Products (MPPL) through a mix of primary and secondary transaction.

In August last year, Paragon Partners was floated by Siddharth Parekh, son of HDFC Chairman Deepak Parekh, and entrepreneur Sumeet Nindrajog.

The firm had achieved its first close from a mix of domestic and overseas investors in early 2016 and is on track to raise Rs 1,300 crore by the end of the year.

This has been the company’s second investment after investing Rs 63 crore in Mumbai based construction firm Capacite Infraprojects.

The PE venture has said in a statement that “Paragon Partners Growth Fund I, along with co-investors, is investing Rs 111 crore in Maini Precision Products.”

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