Frontline Strategy launches 200 million dollars India Industrial Growth Fund
Wednesday 28 November 2007

Mumbai, Nov 28 (ANI/Business Wire India): Mauritius-based Frontline Strategy Ltd today announced the launch of its 200 million dollars India Industrial Growth Fund (IIGF).

The fund will make private equity (PE) investment in India's small and medium enterprises, with each investment likely to be in the 10-12 million dollars ranges over the life-cycle of the investment.

The Fabiani Family Investment Office is the anchor investor in the fund.

IIGF's broad target investments would be companies that are in the early stages of the PE investment space, primarily in the industrial space and with revenues between INR 200 million and INR one billion.

A soft closure of 33 million dollars has already been achieved, and the fund plans to invest shortly in a few identified opportunities.

IIGF is Frontline Strategy's second private equity fund, the first being Strategic Venture Fund (Mauritius) Limited (SVF), with total capital returns at over 85 million dollars.

Harish Fabiani, Venture Partner, Frontline Strategy, and Co-Founder, Fabiani Family Investment Office, said, "IIGF fulfils the long-awaited need of India's SMEs for access to quality global investment funds."

"The team at Frontline Strategy have not only been brilliant in spotting India's ground level SME opportunities, but also helped investee companies with critical strategic and business inputs to excel in the global marketplace," added

Atim Kabra, Founder Partner and Principal, Frontline Strategy, said, "The launch of the India Industrial Growth Fund is founded on the success of the Strategic Venture Fund, our first private equity fund. We are delighted with the response of global investors to India's SME proposition,"

"We are confident that, with the right and timely infusion of capital and strategic advice, Indian SMEs with good management and compelling business models could be fast-forwarded on the growth track," added Kabra. (ANI)
--MP