TVS Shriram Growth Fund I has made an investment of Rs 65 crore ($13 million) in Tata Group's books and music retail chain Landmark Ltd.

The fund, managed by TVS Capital Funds Ltd, has taken nearly a 25% stake, which values the retailer in excess of Rs 260 crore. Landmark is a subsidiary of Trent Ltd, which operates the lifestyle retail chain Westside and hypermaket stores under Star Bazaar. Landmark has 20 stores in nine cities with over 2 lakh square feet of retail space. It
reported revenue of Rs 196 crore for fiscal year ending March 2009. The funds will be used expansion of the chain to other cities.

"Organised retail is an interesting sector for us as we are a consumption-focused fund. Also there is a significant opportunity to expand across metros and even tier - II cities," said Suresh Raju, executive director at TVS Capital.

Landmark started operations in Chennai in 1987 and now operates multiple formats like 'Big-Box' stores in metros, airports and hotels. Landmark boasts of 100,000 titles both in music and books. It also sells products like gifts, sta