Absolute Barbecue: Exclusive: General Atlantic cooks up debut deal in Indian restaurant sector

US-based private equity firm General Atlantic LLC has backed a south Indian restaurant chain, marking its first reported bet on an Indian hospitality company and its smallest-ever investment in the country, two people privy to the development told VCCircle. The PE firm has put in Rs 70 crore ($10.8 million) in Chennai's Absolute Barbeque Pvt. Ltd for a 17.4% stake, according to one of the persons. The deal values the restaurant company at Rs 402 crore. General Atlantic managing director for India and Asia Pacific, Shantanu Rastogi, has joined the board of Absolute Barbeque as part of [...]