Piramal Enterprises’ India Venture Advisors is planning to raise $185 Mn for a new fund which will focus to invest in healthcare and education.The bulk of the fund would be raised from India, while global investors would be tapped for about 20%.
Recently, the fund was planning to raise R500 Cr to invest in healthcare and life sciences segment.India Venture currently manages about R3.7 Bn and has investment in C&C Construction ($11 Mn), Sri Kavery Medical Care ($18.4 Mn) and Vardhman Chemtech.
This April, the fund invested R40 Cr in Sangli based manufacturer of ductile iron castings - Tulsi Castings and Machining.
Naya Ventures, focused on early stage investments in the cloud and mobile space, announced the first closing of its $50 Mn (R250 Cr) fund.
UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.