Zephyr Peacock, the India-focussed private equity fund of US-based Zephyr Management, is looking to raise $75 million (Rs 375 crore) as part of its second fund raising in India. Zephyr Peacock is seeking to raise the fund for equity and equity-related investments in growth capital opportunities in high-growth small and medium enterprise, including those outside the Indian metros — a relatively underserved segment of the market. According to Zephyr, the fund targets investments in financial services, education and consumer-related businesses, high value-added manufacturing and infrastructure-related services. Zephyr takes influential minority positions by investing $5 to $20 million in companies that have proven business models, strong financial performance and are led by strong management teams. […]