Blue Lotus Capital launches third offshore fund with $100 million target

AP

Global asset management and advisory firm Blue Lotus Capital (BLC) has launched its third offshore fund -- India Emerging Giants Fund (IEGF).

IEGF is a PIPE strategy fund focusing on midcap companies in India and it will be investing in emerging companies in the technology, manufacturing, and consumer businesses.

The new fund launch comes in the backdrop of the $23 billion invested by foreign portfolio investors (FPIs) in India last year. FPIs have invested another $4 billion in 2021 so far.

As per the International Monetary Fund (IMF), the Indian economy is expected to grow at 11.5 percent in FY22, which is the highest amongst emerging market economies.

Harikrishnan S, Managing Partner of BLC, said on February 12: “India offers better investment opportunity compared to other emerging markets in the coming years. It is one of the few large countries in the world that has been able to successfully manage the COVID-19 crisis and the economy is seeing a V-shaped recovery.”

Explaining why India continues to draw investments, Harikrishnan said: “India’s growth story is well known to global investors for the past two decades but this time two things are different -- bold and strong structural reforms to formalize the economy and the changing nature of the global supply chain with everyone looking for an alternative to China.”