Indian financial services company Pantomath Group has partnered with investment advisory firm Pi Square Investments to unveil a 400 crore rupees ($56 million) fund to infuse in companies looking for growth capital.
Pantomath Pi Square Asset Management, the newly-created joint venture, will be registered with the Securities and Exchange Board of India as an alternative investment fund and will be operational for five years.
The fund is targeting to commit in 30 companies at various stages, including pre-initial public offering (IPO), IPO and in the secondary market.
Pantomath Pi Square Asset Management intends to cover diverse industries and create a niche basket of investment opportunities.