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Time of India

Former NIIF executive to launch $250 million PE fund

Government-backed National Investment and Infrastructure Fund Ltd's (NIIF) former top executive Padmanabh (Paddy) Sinha has planned to launch a new private equity (PE) fund to raise approximately $250 million (around Rs 2000 crore). Sinha will launch the general partnership fund under the name LaunchBay Capital and will focus on $25-50 million investments in growth-stage companies. He plans to raise $100 million as the first close but did not commit to any timelines. 'I'm happy to share that I'm starting a new position as Managing Partner/co-GP at 'Growth PE business in planning stage'!' Sinha posted on professional networking website LinkedIn on Monday. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Speaking to ET, Sinha said there are not many funds in the growth stage in India as well as globally, at present. 'We will look at broad based sectors including technology, financial services, industrials, manufacturing, etc. for high-growth businesses.' he said. Live Events In March, Sinha quit as the executive director & chief investment officer for the private equity fund of NIIF to focus on LaunchBay Capital, which he co-founded in 2020 but paused its launch due to the post-Covid environment. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories