Bangalore-based private equity (PE) firm Forum Synergies is launching one of the biggest India-focused SME funds. The fund, which will raise money from both overseas and domestic investors, is expected to have a total corpus of $150-200 million (Rs 650-850 crore). The PE firm is co-founded by former president & CEO of GE Consumer & Industrial for India Samir Inamdar. Though the exact corpus of the fund could not be ascertained, the PE firm is looking to bring in up to $135 million (Rs 580 crore) from an offshore entity--the India Knowledge Manufacturing Company, a Mauritius-based closed ended fund. This offshore entity will raise funds from high net worth individuals, NRIs besides corporate and financial institutions based in the US, UK, UAE, Qatar, Saudi Arabia, Singapore and Hong Kong. The offshore fund will invest through the window provided for foreign direct investment. Besides, there will be other set of shareholders including Indian investors and the investment manager.   more »