Fund News
NIIF raises $750-M for 2nd fund of funds
The National Investment and Infrastructure Fund (NIIF) has raised USD 750 million for its second private markets fund of funds (FoF) that will invest in other private equity and venture capital funds.The NIIF FoF is backed by the government of India, which has subscribed to 49% of the corpus. Others who have committed to the fund include the Asian Infrastructure Investment Bank (AIIB) and the New Development Bank, as well as financial institutions from Japan and India.NIIF's first private markets FoF - which raised about USD 600 million in 2019 - has deployed the capital across nine Indian private equity and venture capital funds, realising 40% of the investment so far. That fund has a 15-year investment timeline through 2034.
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