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Growth capital sector is likely to see an abundance of capital. Madrid-based non-resident Indian Harish Fabiani-sponsored Frontline Strategy has launched a new $200 million India Industrial Growth Fund (IIGF) focused on growth sectors. The Mauritius headquartered fund will make private equity investments in small and medium enterprises in the range of $10-12 million. The companies with revenues between Rs 20-100 crore will be under their radar.
A soft closure of $33 million has already been achieved, and the fund plans to invest shortly in a few identified opportunities, according to a release. IIGF is Frontline Strategy's second private equity fund, the first being Strategic Venture Fund (Mauritius) Limited (SVF), with total capital returns at over $85 million.
Fabiani is the chairman of eComserver and also Spain based Transatlantic Equity Holdings, which picked up stake in Americorp Capital. The Fabiani Family Investment Office is the anchor investor in the fund. Harish Fabiani, Co-Founder of Fabiani Family Investment Office, is a Venture Partner of Frontline Strategy. The other founder partner of the fund is Atim Kabra.
Growth capital stage is eyed by quite a few funds like Beacon India Advisors, Tano Capital, UTI Ventures, BTS India Private Equity, and Avigo Capital Partners. Traditional venture capital firms like Matrix Partners India and Sequoia Capital are also looking at this sector.