Belgium’s Incofin plans $80-million India Progress Fund
By Atmadip Rai
Belgium-based Incofin Investment Management, which holds equity in India’s top microfinance companies, is now planning an $80-million fund exclusively for investing in India. This firm is also planning to spread its investments into food and agricultural sector.
The fund is seeking a majority of contribution from overseas investors.
“India Progress Fund will be our first country focused fund,” Incofin’s partner and co-head for Asia investments, Aditya Bhandari told ET. He said that Incofin’s all other funds were global with 15-20% allocation targeting investments in India.