Tata Capital PE fund raises ₹1,250 cr to invest in urbanisation, manufacturing
Mumbai, JTata Capital on Monday announced it has raised ₹1,250 crore for a private equity fund which will be investing in areas including urbanisation and manufacturing.
It announced the final closure of the ₹1,250 crore Tata Capital Growth Fund II, which is a successor to a similar fund.
The fund has both newer and existing investors, which include global and European fund of funds, Japanese institutions and a leading Asian development finance institution, a statement said.
The investment strategy for the new fund will be the same as in the first fund, it said, adding that the investments will be made in three identified themes.
These include strategic services, urbanization and discrete manufacturing in continuation of the earlier strategy, it said.
Tata Capital Growth Fund's managing partner Akhil Awasthi said a stable team, improving underlying economic fundamentals, imminent release of a vaccine and quality of the current portfolio that Tata Capital Growth Fund II has built till date inspires confidence that the Fund will continue to identify and invest in industry leading companies.
New fund raising activity has been impacted by the pandemic, as the economy struggled because of the lockdowns and other restrictions. According to EY, a consultancy firm, there was a 31 per cent dip in new fund raises by value for January-November 2020 at USD 5.9 billion. PTI AA RUJ RUJ
Enter your email to get our daily newsletter in your inbox
- According to the plan, new users will get a JioPhone device, unlimited voice calls and data (2GB high-speed data every month) for two years at ₹1,999.
- Britain's financial services industry has been largely cut off from the EU, its biggest customer, since a Brexit transition period ended on Dec. 31 as the sector is not covered by the UK-EU trade deal.