 "IFC to invest in Stellaris' $100-mn fund")
International Finance Corporation (IFC), an investment arm of the World Bank Group, plans to invest around $10 million in Stellaris Venture Partners India-I's new $100-million fund.
The self-managed closed-end fund, based in India, had its first close in January 2017. The expected next close is June 2017.
"IFC's presence as a potential co-investment partner/follow-on investor through IFC's venture capital team will benefit the fund manager and its portfolio companies which need access to additional growth capital," said IFC.
In the current fund, IFC will be supporting 18-20 innovative Indian companies to grow and gain access to international capital markets.
Stellaris
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