Private sector lender Yes Bank has launched Rs 400 crore private equity fund under which it would raise money through institutional investors for putting in agribusiness.
The objective of the fund is to invest in food processing companies with high growth expectations and obtain a minority position in such companies, Yes Bank Senior Director Agribusiness Funds Management Sonal Shah told reporters here on Wednesday.
The fund would be raised through a mix of global and domestic investors, Shah said, adding that the bank is open to raise funds through high networth individuals (HNIs) also.
Yes Bank is targeting an annual return of about 20-25 per cent from the investment through the new fund.
The bank plans to invest the entire portfolio in the next 1-2 years in 10-15 companies, Shah said, adding the investment would be in the range of $5-7.5 million per company and the bank is already in the process of shortlisting the companies where it intends to invest.
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