Many niche PE funds will emerge in next few years in India: Amit Mehta, IIFL Asset Management

Amit Mehta, principal at IIFL Asset Management

IIFL Asset Management Ltd, part of Indian financial services major IIFL, is placing its bets on growth stage firms as it reaches the final leg of fund raising for its IIFL India PE Fund.

In June last year, the company had launched its latest vehicle – IIFL India Private Equity Fund – with a focus on backing professional entrepreneurs, and a target of raising around Rs 1,000-1,500 crore.

The fund will focus on sectors such as financial services, consumer, healthcare and technology, is targeting a portfolio of 10-13 companies, of which it has already made two investments.

In an interview to DEALSTREETASIA, Amit Mehta, principal at IIFL Asset Management talked about the performance of the firm’s two funds and the changing nature of investors in the private equity space in India. Edited excerpts:-

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