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There is some interest from financial investors as well who are wanting to swap our stake: Rajesh Kamat, MD
Everstone Capital co-founder Atul Kapur said, the final close of the fund is expected in January 2018.
The investment guru delivered the keynote at the Asia PE-VC Summit 2017 in Singapore today.
The deal activity was led by the closure of two large vehicles in 2017 – KKR Asian Fund III and the Guoxin Fund 1.
The total project cost is estimated at $210 million, of which IFC will invest US$50 million in a combination of instruments.
In 2011, IIF invested Rs. 350 crores in the form of compulsory convertible preference shares in MEIPL.
Jenny Lee, Managing Partner of GGV Capital, will join the company’s board of directors.
Digital Domain Space will specialise in the R&D of VR technology, content creation and distribution, and will introduce a brand-new business model for VR experiences.
IFC investment is up to $40 million in A Loan, while the remaining will be funded by internally generated cash from operations.
Currently operating out of five branches across Rajasthan, Finova plans to expand to 15 branches across India by the end of FY 17.