World Bank’s investment arm IFC is considering a $15m investment in private equity firm LotusPool Capital’s debut vehicle.
The fund, LotusPool Fund I, is targeting $125m and will back Indian SMEs based in regions with low private equity penetration, according to IFC.
It will acquire controlling stakes in SMEs that are at early expansion phase of their growth cycle.
LotusPool invests between $2m and $15m in businesses with revenues of $3m to $30m and an EBITDA of under $10m with an investment period of two to seven years.
Other India-focused private equity funds currently in the market include Samara Capital’s $300m second fund.
Samara Capital Partners Fund II has reportedly hit the halfway mark and is expected to close in early 2014 after less than a year on the road.
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