Gaja Capital Fund II, a $250 million fund is going to be set up by Mauritius-based Gaja Advisors in India. It seeks to invest $15-30 million per investment in 6-10 fast growing Indian companies as equity and equity-linked securities.
Gaja Advisors is planning to invest mostly unlisted mid-market companies and SMEs in India. The firm is looking to make a first close by end of 2013 or early 2014 at over $75 million.
International Finance Corporation (IFC) is looking to commit up to $25 million or around 10 per cent of the total targeted corpus of the fund. The World Bank has earlier invested in portfolio companies of Gaja Capital, including listed education company Educomp and Kolhapur-based private lender Ratnakar Bank.