Private equity firm Actis is reportedly investing about $200 million in a non-banking financial company started by former Reliance Capital Finance CEO KV Srinivasan. The company named Profectus Capital Pvt. Ltd. will start with this money as the initial investment and proceed to provide financial services in the Indian market. News about this investment was reported by The Economic Times, which quoted three people who are aware of this investment.
Once it becomes operational, Profectus will provide loans to small and medium business firms in the country. Srinivasan, who has decades of experience in the finance industry, will head this firm. After spending almost a decade in Reliance Capital, Srinivasan quit this year to start his own financial service firm.
Actis is currently making investments in financial service firms across the world. As a part of this investment drive, the company was looking for investment opportunities for the last two years. Once the initial investment of $200 million is made, Actis is planning to scale and expand in the Indian market.
Actis is one of the private equity firms that has been operating in the Indian market for a long time. The company set up operations in the Indian market in the 1990s and has invested in multiple ventures in different businesses across the country. In the recent years, the company is investing mainly in renewable energy ventures in the Indian market. The company also has portfolio investments in multiple countries in Asia, Africa, and Latin America.