Mauritian firm launches $200 mn India fund for SMEs
Frontline Strategy announces the launch of its 200-million dollar India Industrial Growth Fund (IIGF) which will invest in small and medium enterprises.
By PTI |
NEW DELHI: Mauritius-based Frontline Strategy on Wednesday announced the launch of its 200-million dollar India Industrial Growth Fund (IIGF) which will invest in small and medium enterprises.
The fund will make private equity investments in country's small and medium enterprises, with each investment likely to be in the $10-12 million range over the lifecycle of the investment, a company statement said.
The Fabiani Family Investment Office is the anchor investor in the fund. IIGF's broad target investments would be companies that are in the early stages of the PE investment space, primarily in the industrial space and with revenues between Rs 20 crore and Rs 100 crore.
A soft closure of $33 million has already been achieved and the fund plans to invest shortly in a few identified opportunities, it said.
IIGF is Frontline Strategy's second private equity fund, the first being Strategic Venture Fund (Mauritius) Limited (SVF), with total capital returns at over $85 million.
"IIGF fulfils the long awaited need of India's SMEs for access to quality global investment funds," Harish Fabiani, Venture Partner, Frontline Strategy and Co-Founder, Fabiani Family Investment Office said.
The team at Frontline Strategy have not only been brilliant in spotting India's ground level SME opportunities, but also helped investee companies with critical strategic and business inputs to excel in the global marketplace, Fabiani said.
Through different investment vehicles, the Fabiani Family has invested over $750 million in India. Notable direct private equity investments include Edelweiss Capital Ltd, Indiabulls Financial Services Ltd, Nimbus Communications Ltd, TV18 India Ltd and Avendus Advisors.
The fund will make private equity investments in country's small and medium enterprises, with each investment likely to be in the $10-12 million range over the lifecycle of the investment, a company statement said.
The Fabiani Family Investment Office is the anchor investor in the fund. IIGF's broad target investments would be companies that are in the early stages of the PE investment space, primarily in the industrial space and with revenues between Rs 20 crore and Rs 100 crore.
A soft closure of $33 million has already been achieved and the fund plans to invest shortly in a few identified opportunities, it said.
IIGF is Frontline Strategy's second private equity fund, the first being Strategic Venture Fund (Mauritius) Limited (SVF), with total capital returns at over $85 million.
"IIGF fulfils the long awaited need of India's SMEs for access to quality global investment funds," Harish Fabiani, Venture Partner, Frontline Strategy and Co-Founder, Fabiani Family Investment Office said.
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The team at Frontline Strategy have not only been brilliant in spotting India's ground level SME opportunities, but also helped investee companies with critical strategic and business inputs to excel in the global marketplace, Fabiani said.
Through different investment vehicles, the Fabiani Family has invested over $750 million in India. Notable direct private equity investments include Edelweiss Capital Ltd, Indiabulls Financial Services Ltd, Nimbus Communications Ltd, TV18 India Ltd and Avendus Advisors.
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