Evolvence India Holdings, an Isle of Man incorporated, private equity fund of funds holding company focused on India, has been admitted to London’s AIM exchange.
Evolvence India Holdings, an Isle of Man incorporated, private equity fund of funds holding company focused on India, has been admitted to London’s AIM exchange.
EIH’s admission to AIM is expected to give investors access to a diversified Indian private equity portfolio while mitigating issues usually associated with private equity investments, such as a lack of liquidity and relatively large minimum investment size.
Jay V Jegannathan, Chief Executive of Evolvence India Holdings Plc, commenting on the company’s admission to AIM, said: ‘We are very pleased with the successful admission of EIH to AIM, which has raised USD 65 million. EIH has a strong value proposition for investing in India and we believe this is reflected in the positive response we’ve had from institutions.’
Also commenting on EIH joining AIM, the London Stock Exchange’s Director of Markets, Martin Graham adds: ‘We are delighted to welcome EIH to AIM, the world’s largest and most successful growth market. We wish EIH all the best with its plans to drive investment growth in India through its diversified Indian private equity portfolio.’ _
Approximately 70% of proceeds raised will go into the Evolvence India Fund (‘EIF’), an established private equity fund of funds with a co-investment pool focusing on growth capital in India.
Another 10% of the proceeds will be invested in the Evolvence India Life Sciences Fund (‘EILSF’), a new fund that has been created to make private equity investments in life sciences businesses that are either based in India, or have material business activities in India.
The remaining 20% of proceeds will be directly invested into high growth sectors in India such as Financial Services, Infrastructure, Manufacturing and Retail.
