Sistema Asia Fund Plans $150-175 Million Vehicle For India

NEW DELHI: Russian conglomerate Sistema Public Joint Stock Financial Corporation, an active investor in the Indian startup ecosystem through its Sistema Asia Fund, is thinking of raising a larger investment vehicle next year, a senior executive at the Moscow-headquartered fund told ET. The $120 million Sistema Asia Fund counts Rebel Foods, Lendingkart and Licious among its investment portfolio. The fund is targeting a larger corpus – $150-175 million, according to Sumit Jain, senior partner at Sistema Asia Fund Advisory. “It’s a little early to talk about it, but we think we will do a slightly bigger fund next, potentially $150 up to $175 million. We think that for the stage we operate in, and the size of opportunity we’re looking at, actually warrants a slightly larger fund. And slightly larger cheque sizes, as we look at fresh deals from the new fund,” Jain told ET in an exclusive interaction.