DUBAI: Next Orbit Ventures (NOVF) ESDM, a newly established Abu Dhabi-based fund, has launched a $2 billion (Dh7.34 billion) fund to invest in India’s semiconductor and electronics industries.
Mumbai-based private equity firm Next Orbit Ventures set up the fund under the regulation of the Abu Dhabi Global Market financial centre after receiving funding commitments from the Gulf region.
Around $1.5 billion for the fund will be raised from the region, while the remaining $500 million has been secured from a consortium of investors involving both the Indian government and ultra high net worth individuals, NOVF said.
The investments are aimed at creating the required infrastructure to cope with India’s fast-growing market for electronic goods and components.
