For VC Circle's story, click here.

Private equity firm ic2 Capital plans to raise $250 million in two tranches to invest in unlisted Indian firms in the hospitality, logistics, food and media sectors, senior officials said on Monday over telephone.

It would raise around $100 million by December and another $150 million by June, Chairman Sukhbinder Heer said.

"Our talks with our investors indicated they are long on the Indian mid-cap sector," he said when asked about the chances of raising the money in the current market conditions.

It would typically invest around $5-30 million in each firm and expect an annual return of 25-30 percent from its investments, Managing Director Anmol Nayyar said.

In the hospitality sector, it would look at investing in business hotels in the Tier-2 cities and towns instead of 5-star properties, he added.


This content/article is provided by Reuters. All rights, including copyright, in this content/article provided by Reuters are owned or controlled by Reuters. The content may not be copied, broadcast, downloaded and stored (in any medium), transmitted, adapted or changed in any way whatsoever without the prior written permission of Reuters.


Leave Your Comment(s)