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There is one more SME fund from BTS Investment Advisors, a joint venture between the Switzerland-based BTS group and State Secretariat for Economic Affairs of the Swiss Federal Government. Its second fund will be of $80 million, which will invest in small and medium enterprises in India.

The investors in the fund include Asian Development Bank with $50 million, followed by the Swiss government with $12 million. The Belgian Investment Company for Developing Countries (BIO) and the International Cooperation and Development Fund, Taiwan have also evinced interest in contributing to this fund. The fund is expected to close by June-end.

BTS had raised Swiss Technology Venture Capital Fund (SwissTec) in 1997, which made 19 investments in Indian totalling $18.5 million.

Go to article in The Economic Times.