GIFT City gains traction: Avendus fourth firm to get nod for setting up AIF

According to an industry official tracking developments at GIFT City, four other companies' applications are under are under consideration for setting up AIFs

Avendus Capital, India’s largest player in the alternative investment fund (AIF) industry with 30 per cent market share, last week became the fourth firm to receive a licence from the International Financial Services Centres Authority (IFSCA) to set up at GIFT City.
 
The first such licence was issued to True Beacon, which was launched by Zerodha founders Nikhil Kamath and Nithin Kamath, along with high-profile investment banking industry expert Richard Pattle. This was followed by Kedaara Capital and Multiples Alternate Asset Management.
 
And, according to an industry official tracking developments at GIFT City, four other companies’ applications are