Tata Capital's PE fund raises Rs 1,250 crore

Mumbai: Tata Capital on Monday announced it has raised Rs 1,250 crore for a private equity fund which will be investing in areas including urbanisation and manufacturing.

It announced the final closure of the Rs 1,250 crore Tata Capital Growth Fund II, which is a successor to a similar fund. The fund has both newer and existing investors, which include global and European fund of funds, Japanese institutions and a leading Asian development finance institution, a statement said.

The investment strategy for the new fund will be the same as in the first fund, it said, adding that the investments will be made in three identified themes. These include strategic services, urbanization and discrete manufacturing in continuation of the earlier strategy, it said.

Tata Capital Growth Fund's managing partner Akhil Awasthi said a stable team, improving underlying economic fundamentals, imminent release of a vaccine and quality of the current portfolio that Tata Capital Growth Fund II has built till date inspires confidence that the Fund will continue to identify and invest in industry leading companies.