IFC as implementing entity of the Women Entrepreneurship Finance Initiative (We-Fi) will provide $0.5 million (the We-Fi co-investment).
The fund will be managed by India Alternatives Investment Advisors Limited, an independent fund manager domiciled in India. It is led by Shivani Bhasin Sachdeva who has over 17 years of private equity experience.
Shivani Bhasin Sachdeva-led India Alternatives had made the first close of the fund in August 2018 after raising Rs 250 crore from domestic institutions within a year of its launch.
The PE firm had backed four firms from its first fund - Enamor, TransUnion CIBIL, Ideacount and Seclore. It exited Enamor last year when US-based buyout firm Advent International acquired the lingerie retailer.