Aditya Birla Capital raises Rs 220 cr in PE fund
Aditya Birla Capital Advisors, the private-equity arm of the Aditya Birla Group, said on Wednesday it had raised Rs 220 crore ($48 million) in its second private equity fund that would invest in to proven business concepts across sectors that were in early stages of exponential growth.
This was the initial closing for the Aditya Birla Private Equity - Sunrise Fund, while it will continue to receive investments before its final closing shortly, it said, without clearly mentioning the timeline.
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The fund has a mandate to buy minority stakes primarily in unlisted, India-centric businesses in sunrise sectors such as lifestyle, lifeskills and education, lifecare and applied technologies, it said in an emailed statement.
It has made its first investment of up to Rs 40 crore in New Delhi-based SMS Paryavaran that is in the water and waste-water treatment sector, it added.
Aditya Birla Capital Advisors currently manages or advises funds worth Rs 1,100 crore ($238 million).
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