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IIFL Asset Management Ltd today launched IIFL India Private Equity Fund, a Securities and Exchange Board of India-registered ‘category II’ alternative investment fund, the company said in a release.
The fund is designed to back highly-qualified professionals with a strong execution track record and provide capital to such professional entrepreneurs both at seed and growth stage, the statement added. The fund will target experienced professionals who have hunger to create something big by leveraging their experience and network.
According to Amit Shah, CEO, IIFL Asset Management Business, "India is coming of age. The last decade has seen many professionals successfully embark on their entrepreneurial journey. They have leveraged their past experience as professionals and accessed organised pool of capital from investors to create large enterprises. This fund has been set with a vision to back and promote such professionals".
Prashasta Seth, CIO, IIFL Asset Management Business, said this is a unique fund which will enable large investors, HNIs and family offices to participate in this journey of professional entrepreneurship in an organised and focused manne
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