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INSTITUTIONAL INVESTMENT | Cesar Tordesillas, India
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IFC to invest $25-M in India 2020 Fund

IFC is proposing an equity investment of up to USD 25 million in a 'India 2020.'

The fund aims to provide capital and strategic assistance to SMEs in the country.

The investment has been proposed in the 'India 2020 Fund II', which is a successor to India 2020 Fund I. The earlier fund with a size of USD 100 million had earned an estimated gross internal rate of return of 30 percent.

"India 2020 Fund II has a target fund size of USD 125 million. IFC is proposing an equity investment of up to US$ 25 million (nearly Rs 140 crore)," The International Finance Corporation said in a notification.

The board of directors of IFC, a member of World Bank Group, is expected to discuss the proposed investment in a meeting on February 11.

India 2020 Fund-II will focus on in sectors that benefit from and promote consumer demand and purchasing power like healthcare and education, as well as rural consumption and agribusiness.

The fund aims to invest nearly USD 5-15 million per investment for acquiring minority stakes in its target entities. Its investment focus will be on high growth businesses with a track record of product and process innovation and which are well positioned to bring about transformation in their respective sectors.

The fund will be a Mauritius-registered company and will operate primarily through one or more subsidiaries formed in the Republic of Mauritius, which will acquire, own and operate the portfolio of investments.

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