Media365
SKEGEN Asset Management LLP, a PE fund manager, has earmarked ₹500 crore to back the defence sector in India.
The firm has also signed an MoU with iDEX India (Innovation for Defence Excellence),a framework and initiative by the Ministry of Defence to support innovation and technology development in the defence and aerospace sectors.
As part of this commitment, it has invested/committed ₹360 crore in two iDEX winners, including Sagar Defence Engineering and Zeus Numerix.
Navin Roy Vallabhaneni, president, SKEGEN Asset Management LLP said, “Going forward, on the completion of deployment of fund I, the firm has plans to raise additional capital for the launch of Fund II later this year.’‘
According to him, the firm aims to strategically invest in a balanced mix of relatively stable growth opportunities and mid stage/high growth investments, utilising a combination of financial instruments. It currently manages around ₹4,000 crore across different financial instruments and intends to broaden its scope by managing the assets of corporates and ultra-high-net-worth families who are keen on working in a professional investment structure.
Published – February 17, 2025 08:57 pm IST
