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India-focused Westbridge raises $500m for new fund

4 Aug 2011

India-focused private equity firm WestBridge Capital Partners has raised $500m to finance a new round of investments, according to news reports.

The new vehicle, the WestBridge Crossover Fund, is the firm’s debut fund since managing directors KP Balaraj, Sumir Chadha, SK Jain and Sandeep Singhal revived the group in February this year.

Founded in 2000, the firm raised two funds before merging with US growth specialist Sequoia Capital in 2006.

However, in a development earlier this year, the firm’s original founders split from the merger to revive Westbridge, based on a mutual desire to pursue more public sector equity investments as opposed to Sequoia’s focus on private markets.

In 2005, WestBridge closed its last fund, WestBridge Ventures II, with $200m in commitments.

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