Mumbai-based firm Aditya Birla Private Equity has started raising its first fund, with a target of $250m.ABPE will commit 20 per cent to the fund, which will focus on investments in Indian companies, whilst the remaining capital will come from domestic and overseas investors. The private equity firm is a new venture for the Aditya Birla Group, which has committed $100m to the new entity to 'launch a series of funds over time'. Bharat Banka, managing director and CEO, Aditya Birla PE, said, 'Aditya Birla Private Equity is not just another fund; it is operated like a business. The focus of this business is to leverage knowledge base and expertise of the team to create winner companies in the unlisted mid-market; it will also look at select investments in listed companies. […]