NEW DELHI: Small Industries Growth Financial institution of India (Sidbi) and Nationwide Small Industries Company (NSIC) are set to again Sorin Investments, a tech-focused fund co-founded by former KKR India head Sanjay Nayar, stated a supply with direct data in regards to the growth. The recent investments pegged at a number of hundred crores, as soon as closed, will take the overall corpus of the fund to about Rs 1,300 crore, forward of its preliminary goal of Rs 1,150 crore- Rs 1,200 crore, sources stated.
“This would be the remaining shut for the fund.Over time, Nayar plans to again Indian managers and groups to assist construct completely different thematic funds the place India offers a big alternative. The subsequent fund will probably be within the local weather tech house,” sources stated.
The funding of NSIC will likely be routed by Self Reliant India (SRI) Fund, owned by NSIC Enterprise Capital Fund (NVCFL), a subsidiary of NSIC, sources added.
As a part of the fund’s first shut, Sorin Investments had raised $100 million or over Rs 800 crore from a bunch of native and international household workplaces final yr. The fund, which has already made two startup investments, has been backed by Henry Kravis, co-founder of KKR, Sunil Kant Munjal, chairman of Hero Enterprise, and others.
“This would be the remaining shut for the fund.Over time, Nayar plans to again Indian managers and groups to assist construct completely different thematic funds the place India offers a big alternative. The subsequent fund will probably be within the local weather tech house,” sources stated.
The funding of NSIC will likely be routed by Self Reliant India (SRI) Fund, owned by NSIC Enterprise Capital Fund (NVCFL), a subsidiary of NSIC, sources added.
As a part of the fund’s first shut, Sorin Investments had raised $100 million or over Rs 800 crore from a bunch of native and international household workplaces final yr. The fund, which has already made two startup investments, has been backed by Henry Kravis, co-founder of KKR, Sunil Kant Munjal, chairman of Hero Enterprise, and others.
