Money Matters Financial Services, an India-based financial institution with offices in Mumbai and New Delhi, plans to raise an infrastructure-focused private equity fund targeting commitments of INR5 billion (€84.4 million; $107.2 million) with an INR7 billion hard cap.
The firm has filed an application for the registration of the fund with the Securities and Exchange Board of India (SEBI) and is awaiting approval from the regulator, it said in a filing to the Bombay Stock Exchange.
Money Matters' board has also approved an INR200 million sponsor commitment to the Money Matters Venture Capital Fund, the company said. The fund will focus on companies that are either directly or indirectly engaged in the infrastructure sector, it added, without providing further details.
Money Matters did not respond to a request for comment.
This fund will be the second vehicle launched by Money Matters in 2010. In February, the firm launched Special Opportunities Fund-I in partnership with Milestone Capital Advisors, an Indian private equity and real estate fund manager. That fund is targeting commitments of INR4 billion to invest in special situations with particular emphasis on the infrastructure sector as well.
Separately, Money Matters also said it will raise up to INR7.5 billion through a fresh issue of capital in one or more tranches if it obtains approval from shareholders. The additional capital will be used to augment its resources for growth and other corporate purposes, it added.
Money Matters was established in 1995. The firm offers services pertaining to debt advisory, private equity and mergers and acquisitions. It also operates as a merchant bank.