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Rho Fund Investors to debut in India
By siliconindia
Bangalore: In India, it is now the turn of Fund of Funds (FoF) to actively look for deals here. Fund of Funds are those, which invest in venture capital and private equity funds.
The U.S. based FoF, Rho Fund Investors, with $2 billion under management, will be scouting the Indian venture capital market for investments. A division of Rho Capital Partners, Rho Fund Investors invests in private equity funds globally with an emphasis on venture capital (VC).
This three-decade-old firm has committed around $2.1 billion to over 140 venture capital and specialized growth buyout funds.
Of late, this area of FoF is witnessing a lot of action in the Indian market. The entry of these funds to India picked up steam after U.S. based Thomas Weisel Partners set up its direct presence in India in 2006, which was followed by a few other funds. India?s own ICICI Bank is also understood to be finalizing a plan for a $2 billion FoF.
During the last couple of years, there has been a spurt in India-focused venture capital and private equity funds raising funds to invest in Indian companies. Funds such as Helion Ventures, Matrix Partners, Sequoia are only some of them actively investing in Indian growth-stage companies at a fast clip.
"With Fund of Funds available to be tapped here, it is indeed an encouraging sign for venture funds like us," said an industry player. Roh Fund Investors is presently committing a $600 million fund investment program.