Poonawalla readies Rs.1,000-Cr fund for growth-stage firms

Adar Poonawalla, chief executive of Serum Institute of India, has sought regulatory approval to establish the Poonawalla Vision Fund to invest in growth-stage companies from its corpus of INR 1,000 crore contributed by his family. An application to the Securities and Exchange Board of India (Sebi) was made for registration as a category-II alternative investment fund (AIF).