Madison India Capital, a private equity firm backed by global institutional investors, has raised about $230 million through its fourth fund, Madison India Opportunities IV.
The firm typically invests $5-30 million in companies across consumer, business services, technology and financial services. Some of its firm’s investments include Indian Energy Exchange, UnitedLex, Micromax, Coupang, Pipetel and India Shelter Finance.
The firm is backed by investors such as US financial institutions, banks, pension funds, family offices and fund of funds.
The New Delh-based firm also added Shailesh Mehta as operating partner. Mehta was formerly the CEO of Providian, a credit card issuer in the United States, and has served on the boards of PayPal and Mastercard.
Madison India Capital has also made investments in Korea and Singapore.
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