The Hindu Business Line : CDC makes $185 m commitment in 6 PE funds

LONDON: UK-based CDC Group will invest $185 million in six India focused private equity funds (PE), thus taking its overall commitment to such funds investing in the region to over $1 billion.

By investing in growth companies, CDCs capital is able to support the growth of the private sector and foster the next generation of successful enterprise across India, creating jobs and improving the local economy, Mr Anubha Shrivastava, Portfolio Direc tor - South & South East Asia, CDC Group said.

CDC has made a commitment of $50 million to Baring India Private Equity Fund III, which will invest between $15 million to $50 million in companies particularly focused on export services, consumer goods, manufacturing, healthcare and financial services.

A commitment of $50 million was made to New Silk Route Private Equity Asia Fund, that would focus particularly on investments in consumer services, infrastructure, telecoms, engineering and financial services.

Besides, $25 million was committed to India Value Fund III, providing development capital to SME companies in India in the transitional period, $20 million to BTS India Private Equity Fund, focused on SME investments.

As much as $20 million to Avigo SME Fund II, also focused on SME investments and $20million to VentureEast Proactive Fund, which would focus on early and growth stage investment opportunities.

These six private equity funds are expected to raise a total of over $2.47 billion for investment in India. - PTI

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