Chennai: International Finance Corporation (IFC), which is part of the World Bank Group, plans to invest up to $ 15 million in Seabright IV, MP (the ‘Fund’, which acts as Prime Venture Partners).
The IFC is also planning another $ 15 million as a cooperative to invest with the Fund.
The fund will invest primarily in companies targeting India.
According to IFC, the Fund will focus primarily on seed to Series A investments in Indian technology-enabled companies.
The Fund plans to invest in Indian businesses in healthcare, education, financial services, logistics, consumer internet and enterprise technology sectors.
The fund is managed by Yashas IV, LLC, Delaware, USA, whose board member is Raj Mashruwala.
The management company is Azure91 Management LLC, a Delaware USA entity.
The sub-advisor of Azure91 Management LLC is Priven Advisors LLP, Bangalore, India established in 2015 by Sanjay Swamy, Shripati Acharya and Amit Somani (together the “Sub Advisory Partners”), who will provide non-binding advisory services to Azure91 Management LLC. .
IFC proposes an investment of up to $ 15 million in the fund, which will not exceed 20 percent of the Fund’s total capital liabilities.
Source: Telangana Today