Lazard Group is learnt to have seeking Foreign Investment Promotion Board (FIPB) nod to launch Venture Capital fund in India. Lazard will start Lazard India Growth Fund based out of Mauritius and will invest USD 25 million as part of sponsor commitment. The Fund primarily is looking to invest into mid market companies especially in infrastructure and some of the other growth areas.Lazard Group will also approach IL&FS to act as trustee to the fund.
On similar lines, Nomura is also seeking FIPB nod to start proprietary trading in India.
Source: CNBC
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