ADB makes $10m equity investment in Tata Capital to support SMEs in India

TCGF II is a private equity fund targeting growth capital investments in middle-market companies in India, including small and medium-sized enterprises (SMEs).

ADB | Manila | Updated: 19-01-2021 18:49 IST | Created: 19-01-2021 18:49 IST
ADB makes $10m equity investment in Tata Capital to support SMEs in India
TCGF II aims to invest in a portfolio of between 8 and 10 companies in sectors including financial services, health care, manufacturing, and technology. Image Credit: StoryBlocks

The Asian Development Bank (ADB) has made a $10 million equity investment in Tata Capital Growth Fund II LP (TCGF II). TCGF II is a private equity fund targeting growth capital investments in middle-market companies in India, including small and medium-sized enterprises (SMEs).

TCGF II aims to invest in a portfolio of between 8 and 10 companies in sectors including financial services, health care, manufacturing, and technology. The fund's investment sizes are expected to average between $10 million and $35 million. The fund manager, Tata Capital Limited, has agreed to take steps to promote gender equality through TCGF II's investment activities.

"Private equity has emerged as a critical source of growth capital for Indian companies and SMEs, which play a vital role in the country's economic development," said ADB Private Sector Investment Funds and Special Initiatives Division Director Janette Hall. "ADB is pleased to work with Tata Capital to support India's SME segment, promote gender equality and governance best practices in investee companies, and also to promote private equity as a funding option."

TCGF II is sponsored and managed by Tata Capital Limited, a subsidiary of Tata Sons Limited, the flagship company of the Tata Group. Founded in 1868, the Tata Group is the largest business conglomerate in India. It comprised of more than 100 companies, operating in over 40 industry sectors, across 6 continents, and in over 80 countries.


TRENDING

OPINION / BLOG / INTERVIEW

Addressing conflict-related sexual violence at long last

... ...

Why unequal access to coronavirus vaccines is a threat to us all

... ...

India’s love affair with fossil fuels: the path to sustainable development?

... ...

Videos

Latest News

Political boundaries should not become physical barriers for trade: Bangladesh PM Hasina at online ceremony to inaugurate Maitri Setu.

Political boundaries should not become physical barriers for trade Bangladesh PM Hasina at online ceremony to inaugurate Maitri Setu....

Scoreboard of 2nd ODI between India women and South Africa women

Scoreboard of the second ODI between India women and South Africa women here on Tuesday.South Africa women Lizelle Lee lbw b Goswami 4 Laura Wolvaardt c Verma b Joshi 9 Sune Luus c Verma b Joshi 36 Lara Goodall b Kaur 49 Mignon du Preez c S...

Mars on Earth: Turkish lake may hold clues to ancient life on planet

As NASAs rover Perseverance explores the surface of Mars, scientists hunting for signs of ancient life on the distant planet are using data gathered on a mission much closer to home at a lake in southwest Turkey.NASA says the minerals and r...

Malaysia court allows rights groups to challenge Myanmar deportations

A Malaysian court on Tuesday granted international human rights groups permission to challenge the recent deportation of Myanmar nationals, a major step in a country where the law bars immigration decisions from being questioned in court. T...

Give Feedback