Speaking to the FE, he said: Ours is India focused fund and we have been investing in Indian SMEs over the years. The company has almost invested second SME fund of $125 million in over 10 Indian companies and geared to raise the third SME fund of $300 million. The proposed fund will be utilised over a period of three years, he added.
We are bullish on Indian SME segment and we are happy with the growth of our invested companies. We expect a minimum of 30% return on our investments. However, we have not exited from any one so far, he said. We have recently approached IFC for our third SME fund. IFC is likely to invest up to $30 million into our fresh fund. We hope to close the $300 million third fund by January next year, he said.