Aureos Captial to raise $200 Million
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Aureos Captial to raise $200 Million
Bangalore: Aureos Capital, a PE firm helping to build sustainable small and medium-sized businesses in emerging markets, has started raising its second fund of $200 million. The company will invest in India, which also operates in Sri Lanka and Bangladesh. The second fund will be successor of Aureos South Asia Fund, which has already raised $200 million, reports VCCircle. Founded in 2001, Aureos Capital was a joint venture between CDC Group plc and Norfund. It initially managed the existing portfolio, which was established by CDC since early 1990's. Alongside, they also were engaged in establishing new regional private equity funds. The initial team at Aureos Capital was from the CDC Funds Group, a division of CDC. Presently, Aureos have more than doubled the number of its investment professionals to more than 90 since 2001, resulting in a total of over 170 employees. The PE advisors have local commercial knowledge and world-class financial and operational experience. Aureos Capital Ltd was founded in 2001 as a joint venture between CDC Group plc and Norfund, both emerging market specialists. Balaji Srinivas, Managing Partner of Auroes India Advisors, said that the new fund will focus on investing in Tier II and Tier III cities in India. Aureos India Fund II will have the ability to invest up to 15 percent in Sri Lanka and Bangladesh. Headquartered in London, the firm has started its discussions with its existing investors that include CDC Group and the Asian Development Bank. The company claims that the markets in Sri Lanka and Bangladesh offer interesting opportunities for the fund. The competition in these markets is lower and they can even develop sturdy links with India. They have invested around 15 percent of their capital from the first fund in many South Asian markets. They have also made four investments and three exits in Sri Lanka. They also have invested in Ordyn Technologies, HHV Solar Technologies, Auro Mira Energy, BSR Super Speicality Hospitals and Hindustan Vacuum Glass. They have recently invested in Chennai-based publishing services provider Newgen Knowledge Works and plans to close one more deal in the next three to six months.

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