Evolvence India Fund, (EIF), an established private equity fund of funds focusing on growth capital in India, has announced an investment of US$ 20 million into JM Financial India Fund, a corporate private equity fund sponsored by JM Financial Ltd, a dominant financial services group, and lead investor, Old Lane Partners, based in the U.S.
JM Financial India Fund is a US$ 225 million fund promoted by the JM Financial Group, focusing on investments in growth-oriented, largely unlisted, mid-sized companies. Investments made by JM Financial fund so far include investments into Genesis Colour, a high-end retail company; Sona Group, an automotive components manufacturer; and International Tractors Ltd, a leading farm equipment and tractor manufacturer.
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