A91 Emerging Fund to raise $250-300 million to support SMEs

International Finance Corporation to invest up to $25 million for a 20% stake

A Private equity fund called A91 Emerging Fund I LLP, which is backed by International Finance Corporation, is looking to raise $250-330 million to support small and medium-sized enterprises in India.

International Finance Corporation will invest $25 million into the fund. The proposed investment will be in the form of equity, and will not  exceed 20 per cent of the aggregate commitments, said the World Bank's investment arm. 

The fund is planning to invest in 10-15 companies in the early growth/ late venture capital stage of development. Target sectors include consumer goods and services, healthcare, financial services and technology.The fund's