VCCircle

Private equity fund Actis is looking at India's private sector power projects for investments. It will invest through its sister concern Globaleq, which is active in Africa, and Asia. Donald Peck, Managing Partner of Actis, says the firm is bullish about private power generation projects in India and "would be picking up stake in a few such projects".

Actis has raised about $475 million funds for the Indian market. It has so far invested about $75 million from the $475-million fund, while it has earmarked about $100-125 million for investments this year.

The firm is also believed to be looking at early stage funding, about 10 per cent of the total funds will be used for this. Actis currently has investments in Punjab Tractors, Glenmark Pharma, and Jyothi Labs among other companies. It recently invested $25 million in Dalmia Cements. It also pioneered management buyout in India by picking up ICI India's nitrocellulose business. [Via The Hindu Business Line]