India Value Fund Advisors says to raise $700 million fund

India Value Fund Advisors (IVFA), a private equity fund, said it expected to conclude fundr-aising in the next 90 days for an up to US $700 million sector-agnostic fund that would focus on mid-sized companies.

IVFA, in a statement late on Wednesday, said it had already raised US $500 million, but expected to close the fund after raising US $200 million more from over 25 global investors, including sovereign and pension funds.

The fund-raising comes even as a number of other private equity investors are giving India a wide berth, put off by soaring valuations.

(Reuters)