The International Finance Corporation, the private sector arm of the World Bank, will invest up to 20 per cent of capital committed to the India-dedicated VenturEast Life Fund III.The fund, managed by VenturEast Mauritius Investment Advisors, will invest in expansion capital in small and medium businesses across India. The focus will be on life sciences sectors including healthcare, food and agriculture. The IFC investment is aimed at stimulating economic activity and employment growth outside the larger Indian cities.
In 2007, IFC also invested $15m in the $150m VenturEast Proactive Fund, a technology-focused venture capital fund which so far has invested in a variety of sectors including technology for microfinance, infrastructure technology and semiconductors.
Source: Alt Assets