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It is expected that these funds will raise a total of over $2.47bn for investment in the region. CDC's latest commitments include $50m to Baring India Private Equity Fund III, $50m to New Silk Route Private Equity Asia Fund, $25m to India Value Fund III, $20m to BTS India Private Equity Fund, $20m to Avigo SME Fund II and another $20m to VentureEast Proactive Fund.
A statement from CDC said private equity firms invested $17bn in India in 2007, more than double the amount invested in 2006 of $7.4bn. However, the majority of these deals remain later stage where more mature companies are attracting expansion or pre- IPO financing with a relatively small amount being invested in early stage deals. Commenting on these commitments, Anubha Shrivastava, Portfolio Director, South & South East Asia, said: “India is attracting increasing interest from international private equity houses – as seen by the scale of investment in 2007 – with many of the domestic firms also raising larger funds. By investing in growth companies, CDC's capital is able to support the growth of the private sector and foster the next generation of successful enterprise across India, creating jobs and improving the local economy.” |
Source: Business Standard