WestBridge Capital raises £140m

The London-based private equity firm closes second fund above target.

WestBridge Capital has held a final close for its second fund, WestBridge II, at £140 million ($177 million; €158 million). The firm, which launched the fund with a target size of £100 million, typically invests between £10 million to £20 million in SMEs with enterprise values from £15 million to £40 million. WestBridge II is expected to invest in 10 to 12 companies.

The fund received support from both new and existing investors, including the European Investment Bank and the European Investment Fund, which committed £25 million and £20 million respectively.

WestBridge’s debut fund closed at £30 million in April 2012.