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WestBridge Capital says raises $500 million PE fund

WestBridge Capital says raises $500 million PE fund
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First Published: Thu, Aug 04 2011. 04 40 PM IST
Updated: Thu, Aug 04 2011. 04 40 PM IST
Mumbai: Indian private equity fund WestBridge Capital on Thursday said it has raised $500 million to invest in listed and later-stage private companies.
The new fund was set up in February by four founding partners at the India unit of US venture capital firm Sequoia Capital.
The fund’s investors include leading university endowments and major foundations, Westbridge Capital said in a statement.
Private equity investments in India were up 21.6% to $3.3 billion in the first half of 2011, totalling 61 investments, Thomson Reuters data showed.
Last week, Avendus PE Investment Advisors, a unit of Indian financial services firm Avendus Capital, said it planned to raise up to $200 million in a private equity fund to invest in mid-sized listed firms.
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First Published: Thu, Aug 04 2011. 04 40 PM IST