The National Investment and Infrastructure Fund (NIIF) said on Thursday that Singapore-based global investment firm Temasek has agreed to invest up to Rs 2,750 crore ($400 million) in its master fund. Sujoy Bose, MD & CEO of the NIIF, said the master fund is targeting to raise Rs 14,000 crore to invest in core infrastructure sectors with a focus on transportation, energy and urban infrastructure. With the latest agreement with Temasek, NIIF now has agreements totalling almost Rs 10,000 crore, with the Abu Dhabi Investment Authority (ADIA) having committed to invest up to $1 billion, or about Rs 6,500 crore, and domestic financial institutions, about `500 crore. Without disclosing details, Bose added Temasek will also become a shareholder along with ADIA, HDFC Group, ICICI Bank, Kotak Mahindra Life Insurance and Axis Bank. NIIF, which has launched two funds so far, is also planning a third fund, to be called the strategic investment fund, which could be of a similar size to its master fund. \u201cThis fund will target investments in greenfield projects and will be a long-tenure fund of 15 years, which is what is required for infrastructure projects, and is lacking in India.\u201d Bose declined to outline a time-frame for the closure of the strategic fund, adding that discussions with various categories of investors were at a preliminary stage.