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Crossover Advisors, a private equity firm co-founded by Ajay Mehta of Mumbai-based Deepak Fertilisers, has raised $200 million to invest in Indian companies. The fund, to be invested in the unlisted entities in financial services and IT sectors, has been raised from New York-based Quantum, Evergreen of Switzerland, VGD of Belgium and Invest Club of Singapore, according to a report by PTI (Via The Hindu).
The fund will be invested over the next four to five years, according to Crossover CEO and partner Vinnie Vyas. To begin with, the firm would make an investment of $30-35 million in the financial services space and another up to $7million in start ups.