The International Finance Corp., the private financing arm of the World Bank, agreed to invest $12.5 million in two venture capital funds, Indus II and India Direct L.P., to increase private equity capital financing for small and midsized companies in India. The Indus II fund intends to raise $44 million to $50 million from foreign investors; IFC's stake is $5 million. The fund is the second promoted by Indus Venture Management of Bombay. It will be managed by Mauritius-based Indus Investments Mauritius Ltd. IFC will take a $7.5 million stake in India Direct, a $100 million fund sponsored by International Equity Partners, an investment banking firm, which will also manage the fund.
The International Finance Corp., the private financing arm of the...
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