Money Matters Financial Services Ltd is looking to raise as much as Rs 700 crore infrastructure fund and has committed Rs 20 crore as its sponsor. The company has applied to markets regulator Sebi for registration as a domestic venture capital fund and awaiting approval for Money Matters Venture Capital Fund that would target investments
in companies directly or indirectly engaged in the infrastructure sector.
The proposed target size of the fund is Rs 500 crore with a hard cap of Rs 700 crore, it said in a disclosure on Tuesday.
This would be yet another exposure in private equity business for the firm. Money Matters had recently also formed a equal equity joint venture with Milestone Group under Capstone Capital Services Pvt Ltd for rendering investment advisory services to an investment fund.
Although originally the JV was to provide services to a fund launched by Milestone Private Equity Fund, it later amended the arrangement where the services were to be provided to a scheme under Special Opportunity Fund, a new fund registered with SEBI focusing on
investing in special opportunities. Money Matters had committed a similar Rs 20 crore for subscribing to units of the scheme.
Money Matters is a small sized firm that draws a large proportion of its consolidated revenues of Rs 176 crore (for year ended March’09) from financial advisory services. It is engaged in businesses such as credit syndication, securities brokerage, lending and propreitary bond trading besides equity market advisory services.