Kora Management to invest in Edelweiss Group
Edelweiss Group has been revealed to be in talks with multiple investors, including the US-based Kora Management, which is said to be investing up to USD 125 million into the group.
Of the USD 125 million investment, USD 50 million of it is being put into Edelweiss itself, which is in the process of being finalised, as the timing and structuring of the deal to be confirmed, according to a report by LiveMint.
USD 75 million of the investment being made by Kora is said to be going towards Edelweiss Global Investment Advisors, which is the group’s advisory business.
Kora’s founder and Chief Investment Officer, Nitin Saigal, has said that “We look forward to deepening our long-standing relationship with Edelweiss. Over the years, the group has successfully built a diversified financial services franchise in India, with multiple scalable platforms. Today, EGIA is well positioned in asset and wealth management, and distressed debt, two very exciting sub-segments in Indian financial services, with the potential to grow multi-fold in the years to come.”
Saigal added that “We work to be constructive partners to our portfolio companies and welcome the opportunity to partner with Edelweiss."
The investment by Kora marks the final external funding process for Edelweiss group. Rashesh Shah, the chairman and Chief Executive Officer of Edelweiss Group, stated that “Kora Management is directly aligned with the strategic goals of the business, and we are very happy to strengthen our already long association. Our customers will benefit immensely from Kora’s acumen in technology and financial services across emerging markets, and their investment will help us scale our businesses in a competitive market environment."
Alongside Kora, Edelweiss is said to be in conversation with other investors for the first external investment round for EGIA, which will be limited to USD 200 million.