Swiss BTS launches $80 million INDIA Fund
$80 Million more to unleash the power within Indian Entreprenuers and fuel Indian economy. Just a few days back Matrix Partners setup a $150 Million India fund. And now, BTS Investment Advisors, a Switzerland-India based private equity advisor launched 'BTS India Private Equity Fund', a dedicated India fund that would invest in medium size enterprises seeking expansion capital. This fund will target lifescience / pharma, manufacturing, engineering, IT & IT enabled services, telecom and entertainment.
â€œIndia is one of the largest emerging economies with a GDP growth rate of about 8 per cent and a vibrant medium size enterprise is constantly looking for growth capital", said K Srinivas, Managing Partner, BTS Investment Advisors P Ltd, India.
BTS India Fund would have a corpus of $80 million with prominent international institutions as anchor investors.
The State Secretariat for Economic Affairs (Seco) of Switzerland acting through the Swiss Investment Fund For Emerging Markets (SIFEM)-is the first anchor investor with a commitment of US$12 million.
Asian Development Bank (ADB) has joined as co-anchor with a commitment to invest US$15 million.
Belgian Investment Company for Developing Countries (BIO) and International Cooperation and Development Fund (ICDF- Taiwan) are the other two anchor
investors with an investment commitment of US $5 million each.
Apart from these anchor investors, the Fund received investment commitments from several high net worth offshore investors and family offices in Europe and Asia, according to an official release issued by BTS on their website