African SMEs: Tata Group to launch €225m private equity fund
The Indian conglomerate Tata Group plans to launch a $300 million (€224.3 million) private equity fund in Africa, Ecofin news agency reports.The Indian conglomerate Tata Group plans to launch a $300 million (€224.3 million) private equity fund in Africa, Ecofin news agency reports.
According to Ashutosh Tyagi, vice president of private equity at Tata Capital, the fund will take stakes in small, medium and large African companies active in agriculture, food processing, consumer goods, energy, renewable energy, industry and financial services.
This announcement follows the announcement that CDC Group, the UK's development finance institution, has invested $75 million (€56.5 million) in the Africa Development Partners II LP Fund (ADP II).
This multi-sector Fund also invests in African companies in various sectors, including financial services.It will provide capital to high-growth African businesses
to help them develop and contribute to the economic growth on the continent.
It will also support improved governance in companies and the implementation of good social and environmental practices.