New Delhi, July 10 -- Global private equity firm Invus Group is close to acquiring a minority stake worth about Rs.500 crore in Bengaluru-based Popo Ventures, according to two people familiar with the matter.

The deal is expected to value the restaurant operator at Rs.1,100-1,350 crore, the people said, adding that it would mark the company's first external fundraise.

Invus has seen success in its restaurant business investments globally and scaled them well. It aims to replicate the same in India, one of the people cited above said.

Invus and Popo Ventures did not respond to Mint's requests for comment till the time of publishing.

The development comes amid rising investor interest in India's restaurant and QSR space. India's $80-bil...