Religare’s JV with Milestone focuses on Healthcare & Education
Mumbai: Religare Venture Capital Limited announced a 50:50 joint venture with a leading Private Equity player Milestone Capital for managing a Rs. 600 Crores Healthcare and Education fund to be raised domestically in India.
Religare announced its equal partnership in a new investment management company which would manage Milestone’s current – ‘India Build-Out Fund I’ with a clear focus on healthcare and education space. Religare along with its affiliates has also committed to contribute Rs. 60 Crores to the Fund which has an existing corpus of more than Rs. 100 Crores.
Making the announcement, Mr. Sunil Godhwani, CEO and MD, Religare said, “Religare has been expanding into all spheres of financial services and we intend to create a large pool of asset management businesses alongside our existing business in transaction services.” He added, “Healthcare and Education are two sectors which we believe are poised for balanced growth” The fund could invest in schools amd companies with good growth potential.
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