Religare Global Asset Management, part of Religare Enterprises, today announced acquiring 26 per cent stake in early stage fund YourNest Angel Fund.
With this stake purchase, YourNest Angel Fund will become an affiliate of Religare Global Asset Management (RGAM), a global multi-boutique asset management company with more than USD 20 billion assets under management (AUM).
YourNest Angel Fund, a Sebi registered venture capital fund, is an early stage investor in technology-led businesses.
During the last three years, YourNest Angel Fund has incubated various innovative digital and tech-led businesses such as Mycity4kids.Com and Bookmycab.
"Religare Global Asset Management has announced acquiring a 26 per cent stake in YourNest Angel Fund," a company statement said.
However, the company has not specified the deal value.
"With YourNest coming on board, we have strengthened our capability in the venture capital space and it further adds diversity to the RGAM platform which presents a broad spectrum of offerings and funds as per the varying needs and requirements of the marketplace," Religare Enterprises Group CEO Shachindra Nath said.
RGAM also holds stake in Landmark Partners, Northgate Capital, Value Quest capital and Religare Credit Advisors.
