Abu Dhabi Based Fund Looks To Invest $2 billion in India




Next Orbit Ventures (NOVF) ESDM,a newly established Abu Dhabi based fund. It has launched a $2 billion fund to invest in India’s semiconductor and Electronic industries. Mumbai Based private equity firm Next Orbit Ventures set up the fund under the regulation of the Abu Dhabi Global Market financial centre after receiving funding commitments from the gulf region. Around $1.5 billion for the fund will be raised from the regions 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 Investment are aimed at creating the required infrastructure to cope with India’s fast growing market for electronic goods and components. India imported nearly $45 billion worth of electronic goods and components in 2016,according to a study by Ernst and Young and the Indian Electronics and semiconductor Association. The Indian Government has been trying to boost investments in the semiconductor industry to curb the risk of Trade imbalances and enhances cyber security.

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