ADB, Tata Capital sign deal to support SMEs in India

The Asian Development Bank has made a $10 million equity investment in Tata Capital Growth Fund II LP (TCGF II) - a private equity fund targeting growth capital investments in middle-market companies in India, including SMEs. 

TCGF II aims to invest in a portfolio of between eight and ten companies in sectors including financial services, health care, manufacturing, and technology. The fund’s investment sizes are expected to average between $10 million and $35 million. The fund manager, Tata Capital Limited, has agreed to take steps to promote gender equality through TCGF II’s investment activities.