Chennai, April 29 (SocialNews.XYZ) International Finance Corporation (IFC) part of the World Bank group is planning an equity investment up to $15 million in Seabright IV, L.P (the "Fund", operating as Prime Venture Partners).
The IFC also plans another $15 million as a co-investment envelope to invest alongside the Fund.
The Fund will invest primarily in companies focused on India.
According to IFC, the Fund will focus primarily on seed to series-A stage investments in Indian technology-enabled companies.
The Fund plans to invest in Indian companies across healthcare, education, financial services, logistics, consumer internet and enterprise technology sectors.
The Fund will be managed by Yashas IV, LLC, Delaware, USA, whose Managing Member is Raj Mashruwala.
The Management Company is Azure91 Management LLC, a Delaware USA entity.
The sub-advisor to Azure91 Management LLC is Priven Advisors LLP, Bangalore, India established in 2015 by Sanjay Swamy, Shripati Acharya and Amit Somani (together the "Sub Advisory Partners"), which shall render non-binding advisory services to Azure91 Management LLC.
IFC proposes an equity investment of up to US$15 million in the Fund, not to exceed 20 per cent of the Fund's total capital commitments.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
