JM Financial closes second India fund with commitments from Sidbi, Quilvest

JM Financial closes second India fund with commitments from Sidbi, Quilvest

Photo: Bloomberg

JM Financial Private Equity has closed its second India-focused fund with commitments of more than ₹600 crore from Quilvest Group and Small Industries Development Bank of India (Sidbi) among others, two people aware of the matter said.

The PE arm of Nimesh Kampani-led JM Financial Group had achieved the first close of its second fund at ₹300 crore in April 2018. A first close allows a fund manager to start investing the capital that was raised, while allowing it to continue to raise more funds from investors.

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