Mumbai, Feb. 9 (PTI): Leading Indian investment bank Avendus Advisors today said that it is in the process of floating a 200 million dollar India specific fund for investing in diversified sectors.
“We are in the process of an India specific fund of 200 million dollar and it would be a growth and equity fund,” Avendus Managing Director Ranu Vohra said on the sidelines of Nasscom India Leadership Forum here.
The fund to be floated in association with US-based Mayfield, is likely to be deployed within next three years.
“It is our first fund and we hope to invest it completely within three years. We are in the process of making our first investment tranche of 20-30 million dollar,” he added.
Source : Hindu
The investment bank is looking at across all sectors including auto components, IT, BPO, media and also retail.
He added that the focus is on mid-size unlisted entities and Avendus plans to stay invested for seven to 10 years.
On the proposals under consideration, Vohra said that about 8O-90 companies are actively considering acquisitions abroad and he expects the momentum to continue for another two years.