IFC proposes an equity investment of up to US$15 million in Faering Capital Evolving Fund III Limited (the “Fund”), a Mauritius based limited life and limited liability company. The Fund is involved in activities to provide growth capital to mid-market companies in India spanning sectors such as financial services, consumer products/services, healthcare, logistics and other consumption enabling sectors.
(i) Private Sector Development: Access to long-term equity capital is difficult for unlisted companies. The Fund would provide scarce and patient capital as well as expertise and guidance to support value creation. Faering's value-add to investees, through Fund I and Fund II, is visible through the robust growth in financial metrics, high job creation, and strengthening of the underlying business models.
(ii) Financial inclusion and sustainability: Access to employment opportunities for individuals, access to markets for small businesses, and operational, financial and E&S improvements in local businesses.
(iii) Market development: Support to the Indian PE industry at a time when broader investor participation has waned, through support of a local PE firm with long-term potential, operating in a segment of the market that has few growth capital managers.
apital Evolving Fund III Limited is a Mauritius based limited life and limited liability company. The Fund is focused on providing growth capital to mid-market companies in India spanning sectors such as financial services, consumer products/services, healthcare, logistics and other consumption enabling sectors.
Faering Capital International Ltd., a Mauritius company will serve as the Fund’s investment manager and will receive non-binding advice and administrative support from Faering Capital Advisors LLP.
Investment Manager of Faering Capital India Evolving Fund III
Mr. Aditya Parekh
95 Maker Chambers III, Nariman Point, Mumbai 400021 India
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