IndiaVenture to launch off-shore infrastructure fund

IndiaVenture to launch off-shore infrastructure fund


Mumbai: Ajay Piramal group company IndiaVenture Advisors plans to launch a $300-500 million off-shore infrastructure fund within the next six months, a top company official said.

The group would be the main sponsor of the fund.

“The infrastructure fund will be launched in the next six months and will have a size in the range of $300-500 million," IndiaVenture Advisors’ Chairman A K Purwar told reporters on the sidelines of a banking seminar here today.

The fund would invest in infrastructure and related projects, Purwar, a former Chairman of State Bank of India, added.

The company had recently launched a $200 million healthcare fund which focuses on investments in hospitals, specialty clinics, IT and BPOs, besides hi-tech equipment manufacturing units, he said.

The funds would be raised fully from overseas, the chairman said without divulging any further details.