Tata Groups financial services arm, Tata Capital, plans to launch an Africa-focused private equity fund with an initial capital of about $300 million.
The firm would also look at utilising Mauritius as a platform for its Africa initiatives, a senior executive said.
The proposed Africa fund from Tata Capital, which is part of Indias biggest business house, would mainly focus on segments such as consumer goods and agriculture and agri-processing.
We are contemplating an Africa-focused private equity fund... initially it will be around $300 million, Tata Capital senior vice-president (private equity) Ashutosh Tyagi said.
The proposed fund would also look to invest in energy segment, including renewables, light manufacturing and financial services, he said. Tyagi is here to participate in an international private equity conference being organised by the Mauritius governments investment promotion body, board of investments.
For the fund, the company would be mainly tapping manpower resources from within the Tata group, which employs about 4,000 people in different parts of Africa.