SBI Funds Management, 3one4 Capital plan $200 million private tech fund
Business
SBI Funds Management is teaming up with Bengaluru-based 3one4 Capital to launch a $200 million fund focused on private tech companies.
This marks SBI Funds's first major move into the alternative investment space, which is quickly gaining popularity among investors looking for higher returns.
The fund still needs SEBI's green light before it can officially roll out.
India alternatives sector reaches $175B
India's alternative investment sector has ballooned to $175 billion as more players chase better yields.
CEO Debasish Mishra says tapping into tech and alternatives is a key part of SBI Funds's new strategy, joining other big names like ICICI Prudential and Axis, who are also expanding beyond traditional mutual funds.