Key facts
- SBI Funds Management Ltd. is planning its first technology-focused fund.
- The fund will target private technology firms.
- The planned size of the fund is $200 million.
- The fund will be co-sponsored with 3one4 Capital Management LLP.
India's largest asset manager, SBI Funds Management Ltd., is reportedly planning its first dedicated technology fund for private companies. The initiative, with a target size of $200 million, follows a trend of Indian financial institutions expanding into the alternative investment sector. The new fund will be co-sponsored by Bengaluru-based venture capital firm 3one4 Capital Management LLP. This move signals SBI Funds Management's strategy to capitalize on the rapid growth within India's technology and venture capital landscape.