Inga Ventures, in partnership with TIH Ltd. (TIH), Singapore, has announced to start a ₹125-crore private equity fund ‘Ekkum TIH Emerging Opportunities Fund’ for investing in mid-size enterprises in India. The fund has received commitment of ₹ 25 crore from the sponsors and their affiliates.
The fund will infuse growth capital in mid-size emerging companies operating in niche segment with strong track record. It will aim to target companies with a clear expansion and value creation plan. The initial size of the fund is targeted at ₹125 crore and the overall target is ₹500 crore.
It will follow a sector agnostic approach with positive bias towards specialty chemicals, FMCG, electronics, food and agriculture and healthcare/pharma.
G. S. Ganesh, founder of Inga said, “The partnership with TIH brings the best combination of the strong network and long term relationship of Inga and long standing investment experience of TIH.”
The strength of Inga is a collective experience of over 100 years comprising its founders and key management personnel, he added.
Allen Wang from TIH said, “Inga’s wide reach across the country presents great investment opportunities for us in the middle market space in corporate India. We are confident that the partnership will help both parties to expand our opportunities in a quickly expanding Indian economy – from both a direct investment and cross-board perspective.”