Private equity investor India Value says to raise $700 million fund

The fund would focus on mid-sized companies

Private equity fund India Value Fund Advisors (IVFA) said it expected to conclude fundraising in the next 90 days for an up $700 million sector-agnostic fund that would focus on midsized companies.

IVFA, in a statement late on Wednesday, said it had already raised $500 million, but expected to close the fund after raising $200 million more from over 25 global investors, including sovereign and pension funds.

The fundraising comes even as a number of other private equity investors are giving India a wide berth, put off by soaring valuations.