Indian industrial conglomerate Reliance Capital to start raising half its $500m fund from overseas investors, VCCircle reports.
Reliance Equity Advisors, the private equity arm of Indian industrial conglomerate Reliance Capital, is reportedly planning to raise half its next fund from overseas investors. This will be Reliance’s first corporate venturing fund with external investors.
Local news provider VCCircle after an interview with Ramesh Venkat, chief executive of Reliance Equity Advisors, said entrepreneur Anil Ambani’s Reliance would raise between $250m and $300m from overseas investors to close the fund at about $500m. Reliance Equity Advisors has already raised R1,100 crore ($235m) from domestic investors, VCCircle said.
Anil Dhirubhai Ambani Group (ADAG) planned to invest R300 crore in the fund.
The corporate venturing fund, which is targeting investments in consumer goods, healthcare, logistics, media and infrastructure services, made its first investment in May by taking a stake for R100 crore in Pathways World School.
Reliance’s fundraising comes after peer Tata Capital raised R900 crore from domestic investors for…
