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Vivek Subramanian, Partner, Avigo Capital Partners, expects this commitment in the next one month.

International Finance Corporation (IFC) is planning to commit $30 million in Delhi-based private equity fund Avigo Capital Partners. Avigo, which is focused on small and medium enterprises, is raising its third fund called Avigo SME Fund III. The funds target size is $300 million and Avigo expects to close it by end of this year.

"We expects to close this fund by end of this year. IFC is an existing investor and is currently in the process of due diligence," said Vivek Subramanian, Partner, Avigo Capital Partners. Subramanian expects this commitment in the next one month. IFC, which is the private equity arm of World bank, had invested $10 million in Avigo's Fund II. 

Other investors in Avigo's second fund are UK's CDC Group ($20 million), Australia's Macquire ($20 million) and Export Development Canada ($7.14 million). Avigo has made a total of 10 investments from its second fund. Some of the companies in Avigo's portfolio include fashion retailer Spykar, material handling company Tecpro Systems, and turnkey services provider Get Engineering and Construction.