Ascent Capital to invest $150 mn in new ventures

Ascent Capital to invest $150 mn in new ventures

Mumbai: Bangalore based Ascent Capital (earlier known as UTI Ventures), which manages nearly $600 million across three funds, is looking to aggressively tap into India’s buyout, control stakes and special situations investments market.

The private equity firm will invest $150 million over the next 12 to 18 months in such opportunities, said Raj P. Kondur, director, adding that traditional PE funding, that is providing growth capital to mid market companies, will continue to be a focus area.

According to Kondur, sectors of preference include financial services, health-care, education, logistics and business process outsourcing firms.

Kondur, who joined Ascent Capital in March 2010, had co-founded ChrysCapital, one of the largest PE firms in the country which invests in listed companies.