Sistema Asia Fund in process of expanding first fund to $120 million

Of the top-up, up to $40 million will be invested by Sistema, while the rest will be raised from external investors, including limited partners and high net worth individuals

Sistema Asia Fund (SAF), the venture capital fund floated by Russian conglomerate Sistema PJSFC, is in the process of expanding its first fund to $120 million. 

It plans to do so by adding up to $80 million more as the company looks to invest in Indian start-ups. 

Of this, up to $40 million will be invested by Sistema, while the rest will be raised from external investors, including limited partners and high networth individuals (HNIs). 

“Seeing how our company’s portfolio has shaped up, Sistema has decided to double down on its investment in India. We are also going to broad base our fund,