960419

IFC to invest

$12.5 m

in India

LONDON: The International Finance Corp has signed agreements to invest $12.5 million in two Indian venture capital firms which provide equity investments in small and medium-sized enterprises.

The IFC said in a statement that it will invest $5 million in Indus II, a $44-50 million fund being raised from foreign investors. It has already participated in Indus Venture Management's first fund.

India Direct, a $100 million private equity fund sponsored by Washington DC-based International Equity Partners LP, will receive $7.5 million from the IFC, the equity investment affiliate of the World Bank.-Reuter