IFC to invest up to $40 mn in Kedaara Capital's 2nd cap fund

The PE fund focuses on firms in environmental and social risk sectors

International Finance Corporation (IFC), is planning for an equity investment of up to $40 million (Rs 260 crore) in Kedaara Capital Fund-II. 

This second fund of Kedaara, co-funded by Manish Kejriwal (pictured), is expected to be around $650 mn, with capital commitment to 10-12 Indian mid-market companies. It would be a limited liability partnership, to be advised by Kedaara Capital Advisory Services.

The private equity fund focuses primarily on growth-oriented companies operating in environmental and social ('E&S') risk sectors or businesses such as logistics, packaging, speciality chemicals & ingredients, pharmaceuticals and potentially finance companies.

IFC, the World Bank Groups's investment arm, has had $672 mn committed to 32 funds in India since the year 2000.