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Former KKR, BII Managers Eye $250 Million India Technology Fund

  • Fund to invest in fintech, climate and agriculture startups
  • India has one of world’s fastest-growing tech industries

A pair of former fund managers from KKR & Co. and British International Investment Plc aim to raise as much as $250 million to invest in technology-focused startups in India, according to people familiar with the matter.

The new venture capital fund, Fractal Growth Partners, was co-founded by Ajay Candade, who until recently led KKR’s growth tech business in India, and Nikhil Balaraman, who was previously head of South Asia tech investment at BII. FGP will look to scale up companies that have moved past the seed funding phase, one of the people said, asking not to be identified as the information is not public. The firm will also invest in software as a service and business to business companies, the person said.