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Evolvence launches third India-focused fund of $400 Million
Wednesday, 21 July 2010, 22:57 IST
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Evolvence launches third India-focused fund of $400 Million
Mumbai: Dubai-based alternative investment firm, Evolvence Capital, has announced the launch of Evolvence India Fund II-its third India focused fund. Evolvence India Fund II, which is a private equity fund of funds, is targeting a corpus of $400 million from institutional and high net worth clients from across the globe, a press release issued here said. The fund aims to make select investments in the mid-market growth capital segment in the country's private equity market through fund investments, co-investments and direct investments. This new fund from Evolvence Capital follows the successful closing of Evolvence India Fund I in 2007 and Evolvence India Life Sciences Fund, a healthcare and life sciences fund in 2008, the release said. Evolvence India Fund II will invest with high quality private equity fund managers and established entrepreneurs in India and may selectively consider investments in secondary private equity opportunities, it said. "Evolvence is committed to India and has been actively investing in this market since 2004. Our investors recognise India's potential and we strive to offer them exceptional returns by identifying attractive investment opportunities in the country," Evolvence Capital's CEO, Khaled Al Muhairy, said.
Source: PTI
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