Private equity firm Milestone Group today launched a Rs 800-crore fund which will invest primarily in education sector.
"India Build-Out Fund (IBF)-I plans to invest majorly in education service providers focusing on K-12, finishing schools, test preparations, colleges, etc," Milestone Capital CEO and Managing Director Ved Prakash Arya said.
Besides, the fund also plans to invest in companies involved in domestic consumption and ancillaries physical infrastructure space, he said.
The fund house plans to raise Rs 600 crore with a greenshoe option of Rs 200 crore, he added.
IBF-I is a five-year close ended fund, open for subscription by domestic investors, with an option of two extensions of one year each. The minimum investment for individual investors is Rs 25 lakh and Rs 1 crore for institutional investors.
Currently, Milestone has Rs 2,400 crore under management generated through three funds.
