Mauritius based Frontline Strategy Ltd today announced the launch of its $ 200 million India Industrial Growth Fund (IIGF). The fund will make private equity investments in India's small and medium enterprises, with each investment likely to be in the $ 10-12 million range over the lifecycle of the investment. The Fabiani Family Investment Office is the anchor investor in the fund.
India Industrial Growth Fund’s broad target investments would be companies that are in the early stages of the PE investment space, primarily in the industrial space and with revenues between Rs. 200 million and Rs. 1 billion.
A soft closure of $ 33 million has already been achieved, and the fund plans to invest shortly in a few identified opportunities.
India Industrial Growth Fund is Frontline Strategy's second private equity fund, the first being Strategic Venture Fund (Mauritius) Limited (SVF), with total capital returns at over $ 85 million.
Speaking on the occasion Mr. Harish Fabiani Venture Partner, Frontline Strategy, and Cofounder, Fabiani Family Investment Office said “India Industrial Growth Fund fulfils the long awaited need of India's SMEs for access to quality global investment funds. The team at Frontline Strategy have not only been brilliant in spotting India's ground level SME opportunities, but also helped investee companies with critical strategic and business inputs to excel in the global marketplace.”
At the launch Atim Kabra, Founder Partner and Principal, Frontline strategy said “The launch of the India Industrial Growth Fund is founded on the success of the Strategic Venture Fund, our first private equity fund. We are delighted with the response of global investors to India's SME proposition. We are confident that, with the right and timely infusion of capital and strategic advice, Indian SMEs with good management and compelling business models could be fast forwarded on the growth track,”
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