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CDC commits $185m to India funds
22/07/2008. Source: AltAssets. 
 UK government-backed private equity emerging markets fund of funds investor CDC Group has made new commitments totalling $185m to six private equity funds focused on investment in India. This brings CDC's overall commitment to private equity funds investing in the region to over $1bn.
CDC has made the following commitments: $50m to Baring India Private Equity Fund III, $50m to New Silk Route Private Equity Asia Fund, $25m to India Value Fund III, $20m to BTS India Private Equity Fund, $20m to Avigo SME Fund II and $20m to VentureEast Proactive Fund.
It is expected that the funds will raise a total of over $2.47bn for investment in the region, according to the firm.
Anubha Shrivastava, portfolio director, South & South East Asia, CDC, said, 'India is attracting increasing interest from international private equity houses - as seen by the scale of investment in 2007 - with many of the domestic firms also raising larger funds. By investing in growth companies, CDC's capital is able to support the growth of the private sector and foster the next generation of successful enterprise across India, creating jobs and improving the local economy.'
Last month CDC made new commitments totalling $250m to three funds focused on infrastructure and real estate investment in India.
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