Tata Capital plans USD300 million Africa private equity fund

By IVCPOST Staff Reporter

Sep 13, 2013 12:23 PM EDT

Tata Group's financial services unit, Tata Capital had been planning to launch an Africa-focused private equity fund. According to The Economic Times (ET), The planned PE fund would be launched with around USD300 million initial capital. Tata Group firm would be looking to launch the fund in the Republic of Mauritius. 

The counrty would be used as the fund's platform for its Africa initiatives. This was according to a senior executive in the company who told ET. The proposed Africa fund from Tata Capital would focus on consumer goods, agri-processing and agriculture.

Tata Capital Senior Vice President Ashutosh Tyagi told Press Trust of India, "We are contemplating an Africa-focused private equity fund... initially it will be around USD300 million." The proposed fund would also look to invest in the energy segment. This would include renewables, manufacturing and financial services.

Tyagi also said, "The fund is being planned as a part of a long-term strategy."

Tata Group had generated USD2.5 to USD3 billion in annual revenues from its African operations. The company operates in around 13 countries in the African region. The group's global revenue had reached more than USD100 billion.

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