SBI-FMO Emerging Asia Financial Sector Fund has already held a $60m first close and could collect up to $125m, up from its initial $80m target thanks to strong early support from LPs.
Singapore-based SBI Ven Capital has been tasked with managing the fund, which will focus in India and Sri Lanka, Bangladesh, Indonesia, the Philippines, Thailand, Cambodia and Vietnam.
The firm, the overseas private equity arm of SBI Holdings, invests its own capital across sectors including financial services as well as IT, biotech, consumer, industrial and education.
Dutch development bank while FMO has provided debt and equity to more than 180 financial institutions in emerging markets, including several in emerging Asia.
Copyright © 2013 AltAssets