Abu Dhabi-based fund Next Orbit Ventures (NOVF) ESDM has said it has launched a $2 billion fund to invest in India’s semiconductor and electronics industries.
After receiving funding commitments from the Gulf region, the fund has been set up under the regulation of the Abu Dhabi Global Market financial centre.
According to a Reuters report, NOVF said aound $1.5 billion for the fund will be raised from the region, while the remaining $500 million has been secured from a consortium of investors involving both the Indian government and ultra high net worth individuals,
The investments are aimed at creating the required infrastructure to cope with India’s fast-growing market for electronic goods and components.
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