IFC to invest in IL&FS Trust-controlled PI Ventures

The new fund seeks to raise $30-40 million in capital commitments

IL&FS, Infrastructure Leasing and Financial Services, Mumbai

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A logo of IL&FS (Infrastructure Leasing and Financial Services) is seen on a building at its headquarters in Mumbai. Photo: Reuters

T E Narasimhan Chennai

Last Updated : Mar 23 2017 | 12:07 PM IST

International Finance Corporation (IFC) is planning to make an equity investment in PI Ventures Fund I, a new fund, which will be controlled by Vistra ITCL (India) Limited (Formerly IL&FS Trust Company Limited, India).

The new fund seeks to raise $30-40 million in capital commitments, subject to necessary approvals from the Trustee (Vistra ITCL). IFC has proposed an equity investment of Indian Rupee equivalent of $3 million, not to exceed 20 per cent of total commitments, said IFC.

PI Ventures Investment Trust is registered with the Securities and Exchange Board of India as a Category I Alternative Investment Fund. The

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