Financial services company Pantomath has tied up with investment advisory Pi Square to launch a Rs 400-crore fund to invest in companies looking for growth capital.
The newly-created joint venture, Pantomath Pi Square Asset Management, will be registered with Sebi as an alternative investment fund, which will be operational for five years and is targeting to invest in up to 30 companies at various stages, including pre-IPO, IPO and in the secondary market, an official statement said Tuesday.
"We believe many businesses are at an inflection point but lack appropriate means of finance at crucial stages of their business life cycles," Mahavir Lunavat, Pantomath managing director, said.
The fund's chief investment officer Vishrut Pathak said it will avoid e-commerce companies which are traditionally preferred by the venture investing industry, stressing that such companies are fraught with negative cash flows and bleeding balance sheets.
It will cover diverse industries and create a niche basket of investment opportunities, the statement said, adding a hybrid asset allocation strategy will ensure it caters to varied needs of growth businesses.
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