Kotak Investment Advisors has garnered $590 million under the first close of its India-dedicated Kotak Data Centre Fund, domiciled in Gujarat’s GIFT City.
The $800 million Data Centre Fund will invest in creating and building data centre capacity across the country, and will be the first such India-focused fund to partner with data centre operators to tap the fast-growing digital infrastructure opportunity, it said in a release.
“The current data centre capacity in India is significantly lower than the fast growing requirement. Being a high capex industry requiring significant capacity build-up, we believe that there is a significant equity investment opportunity to back partners in creating capacities,” said Rahul Shah, Executive Director, Kotak Investment Advisors.
The fund will provide strategic risk capital to partners at scale and participate in their success while providing value-added support.
Kotak Investment Advisors is a part of Kotak Mahindra Group and focuses on alternate assets management and investment advisory businesses. Set up in early 2005, it has raised, managed and advised over $7.5 billion across different asset classes including private equity, real estate, infrastructure, special situations and listed strategies.