Warburg Pincus, a private equity firm, completed the acquisition of a 40% stake in boAt, a company that designs and markets a variety of audio-focused consumer electronics, from Fireside Ventures, a venture company, for $100m. The investment will enable the company to widen its R&D capabilities and product portfolio, and build on boAt’s efforts to create and support a manufacturing ecosystem under the Make-in-India initiative. "We welcome Warburg Pincus as a new investor into the company. This is a vote of confidence for our business model and growth prospects. The investment is great news for not only the company but for the entire D2C sector. The investment has come at the right time as we make efforts to ramp up our manufacturing and global supply chain," Aman Gupta, boAt Co-Founder.