International Finance Corporation (IFC), is planning for an equity investment of up to $40 million (Rs 260 crore) in Kedaara Capital Fund-II.
This second fund of Kedaara, co-funded by Manish Kejriwal (pictured), is expected to be around $650 mn, with capital commitment to 10-12 Indian mid-market companies. It would be a limited liability partnership, to be advised by Kedaara Capital Advisory Services.
The private equity fund focuses primarily on growth-oriented companies operating in environmental and social (‘E&S’) risk sectors or businesses such as logistics, packaging, speciality chemicals & ingredients, pharmaceuticals and potentially finance companies.
IFC, the World Bank Groups’ investment arm, has had $672 mn committed to 32 funds in India since the year 2000.
Source: Business-Standard