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2013-09-04

Entrepreneur Sanjay Gupta starts PE fund for SMEs

Sanjay Gupta, who resigned recently as Executive Chairman of Metro-link Express for Gandhinagar and Ahmedabad (MEGA) has decided to start a private equity fund called LIFE (Let India Fly for Ever) Fund.

Sanjay Gupta, who resigned recently as Executive Chairman of Metro-link Express for Gandhinagar and Ahmedabad (MEGA) has decided to start a private equity fund called LIFE (Let India Fly for Ever) Fund.

 

Life fund is is envisaged as a Private Equity fund which will provide capital solutions to profit focused, entrepreneur driven small and medium enterprises. LIFE will target to raise fund size of INR 250 to 300 crores initially, from investors in India and abroad.

 

Life will focus on business in four key sectors – Media and entertainment; Hospitality and Tourism, Healthcare, and Lifestyle.  The first scheme to be launched under this private equity fund is titled India Aspiration Scheme which will focus on small and medium enterprises and industries with a turnover ranging between INR 20 to 200 crores. Life Fund falls under Category II – AIS SEBI regulations.

 

Gupta said that , ““Entrepreneurs are growth engine of the nation however they are faced with challenges of finding growth capital. In this scenario ‘LIFE’ will infuse the much needed capital in select enterprises to overcome the bottlenecks and accelerate the growth of India.”

 

“More than the established industries in mature growth phase where most equity funds have interest, real pressing requirement of capital covers from small and medium scale industries. SMEs are the backbone of Indian economy and hence, an initiative on private equity infusion in current challenging times is required.” Gupta added

 

Mr. Gupta is the Promoter of rapidly growing business conglomerate, Neesa Group Hotel chain, Infrastructure, Food and Agritech, Real Estate, Construction, IT and Media business. 

 

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