Tata Capital Growth Fund II, the second growth capital private equity fund of the group’s financial services business, has raised ₹1,250 crore for the final close of the fund, it said in a statement.
The fund has raised the capital from existing and new investors such as global and European fund of funds, reputed Japanese institutions and a leading Asian development financial institution. The fund is sponsored and managed by Tata Capital Ltd.
The funds raised will be invested across strategic services, urbanisation, and discrete manufacturing, a continuation of the investment strategy pursued by Tata Capital Growth Fund I, the statement said.
“A stable team, improving underlying economic fundamentals, imminent release of a vaccine and quality of the current portfolio that Tata Capital Growth Fund II has built till date inspires confidence that the fund will continue to identify and invest in industry leading companies,” said Akhil Awasthi, managing partner at Tata Capital Growth Fund.
This article was first published on livemint.com