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Our Bureau

Mumbai , Oct 19

KOTAK Mahindra Bank has launched `India Growth Fund', a private equity fund, in partnership with SEAF Management LLC, US, according to a press release.

The fund has already received Rs 180 crore and targets to have a final close with commitments in the range of Rs 400-450 crore by the end of the year, said the release.

The fund will primarily invest in dynamic and fast growing sectors such as life sciences, media and entertainment, specialised retailing, light engineering, information technology and infrastructure related services such as healthcare, logistics and distribution. The Small Industries Development Bank of India is a partner and key anchor investor in the fund.

United States Agency for International Development is also playing a key role in promoting the growth of emerging corporates through the fund, according to the release.

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