Madison India Capital raises Rs 1480 crore

Published: September 20, 2017 4:05 AM

Mehta serves on several boards of companies including Safari Industries and Manappuram Finance, Madison said. Mehta was formerly the CEO of Providian, one of the top ten credit card issuers at its peak in the United States.

Private equity firm Madison India Capital today said it has raised million (Rs 1,480 crore) from its fourth fund.

Private equity firm Madison India Capital today said it has raised $30 million (Rs 1,480 crore) from its fourth fund. The firm has also inducted Shailesh Mehta as Operating Partner. Mehta serves on several boards of companies including Safari Industries and Manappuram Finance, Madison said. Mehta was formerly the CEO of Providian, one of the top ten credit card issuers at its peak in the United States. He had also served on the boards of PayPal and Mastercard. “Madison India Capital has closed on approximately $230 million for its fourth fund – Madison India Opportunities IV,” the private equity firm said. Madison has been an active investor in India and has also made investments in Korea as well as Singapore. The fund is backed by global institutional investors including the US financial institutions, banks and pension funds.

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