Report: BTS to raise $400m for India

BTS Investment Advisors is reportedly looking to raise two private equity funds that will take its India-focused private equity assets under management from $100m to $500m.

India-focused Swiss private equity firm BTS Investment Advisors plans to launch two private equity funds in the next couple of years, according to India’s Business Standard.

The firm, which currently manages about $100 million (€73 million) across two funds, is looking to increase its India-focused assets under management to $500 million by raising two private equity funds, each in the range of $200 million to $300 million. The firm plans to draw commitments from about 10 investors for each of the funds.

BTS will invest between $10 million and $15 million per company from the two funds, and will likely target sectors including information technology, telecom, media, logistics and engineering, according to the paper.

The firm is currently investing out of its $80 million BTS India Private Equity Fund that closed in June 2007. The SME-focused growth capital fund has made six investments, the most recent of which was a $7 million investment in Sai Sudhir Infrastructures, a Hyderabad-based engineering and construction company.

The UK's CDC Group is the anchor investor of the fund and committed $20 million to it. Other institutional investors include the Asian Development Bank, the Swiss Investment Fund for Emerging Markets, the Belgium Investment Company for Developing Countries and the International Cooperation and Development Fund Taiwan.

BTS also manages the $22 million Swiss Technology Venture Capital Fund, an India-focused vehicle that was launched in 1997 and has made 19 investments.

BTS Investment Advisors could not be reached for comment.