British conglomerate SayeNvest Group is keen to build an investment fund of $1 billion in India over the next 12-18 months. Despite market concerns over slowdown in GDP growth in the second quarter in India, the asset management arm of the group remains optimistic of the long term growth prospects.
“We want to do a $1 billion fund for India. The fund will invest in India largely backed by us, some sovreigns, some PEs (private equity). Our investment mindset is very focussed on where the growth is and where the promoters are capable enough. The investment will be diversified across sectors,” Rakeshh Gupta, chairman SayeNvest Group told The Telegraph on the sidelines of Infocom 2024, an ABP group event, on Friday.
He added that the asset management arm of the group is looking at an return of investment of around 9-12 per cent.
Gupta, whose expertise lies in fundraising and mergers and acquisitions, has been part of global institutions like ICICI, Hinduja and the Essel Group in the past.
“I am bullish on India. There is huge opportunity here,” Gupta said adding that while the market is strong from an investor’s perspective, but entrepreneurs still need to be groomed on how to grow big not just within the country but outside as well.
In March 2024, SayeNvest had announced the launch of its operations in India along with its intent to setup an India centric fund and promote ESG (environmental, social, and governance) principles for sustainable investment decisions.
SayeNvest group consists of SayeNvest Caps Advisory Ltd, SayeNvest Asset Management, SayeNvest Real Estate Advisory, SayeBank, SayeEnsure Insurance, SayeTech Technologies and SayeOne Media Corporation.
Earlier in October, the ministry of investments, Saudi Arabia, and SayeNvest Caps Advisory announced a strategic partnership to drive economic growth and promote investment opportunities in Saudi Arabia.
Gupta was a panelist at a session at the Infocom Startup forum on Friday moderated by Arijit Bhattacharyya, founder Virtual Infocom. Nikhil M., partner at Sustainable Impact Partners, and Ashesh Shah, founder and CEO, Transcon Capital was also present at the session which deliberated on the factors that investors weigh in for selecting which startups to fund.
