CDC, the British government's development finance arm, is all set to invest $680 million in India, where the economy is expected to expand to 7.5 per cent in the coming days. One of the earliest private equity investors in India, CDC has pumped over $1 billion in 325 companies in Asia's No. 3 economy.
A top executive of the company said if the funds find the right opportunities, it will make multi-million-dollar investments in the next two years. CDC's South Asia head N Srinivasan said the finance institution is excited about opportunities in the affordable services space and intends to support ventures that will create more jobs and aid in sustainable development. About 70 per cent of the $1-billion investment until now has been directed towards private equity funds such as IDFC, Multiple, Actis, Aavishkaar, Rabo Agri Business Fund, Avigo and Baring India, and the balance 30% has been invested in companies including Ratnakar Bank, Rainbow Hospitals, Narayana Hrudayalaya, Janalakshmi Finance and Equitaas.
