India's Largest Asset Manager Establishes $200M Tech Fund

According to Bloomberg Markets, SBI Funds Management, India's largest asset manager, is preparing to establish a new $200 million technology-focused fund targeting private companies. The move marks the firm's entry into dedicated tech investing and reflects broader industry momentum in alternative investment strategies.

The initiative positions SBI Funds Management alongside domestic competitors who have similarly ramped up operations in the alternative investment fund sector, which has experienced significant growth in recent years. The new fund underscores increased institutional appetite for private technology investments in India's expanding startup ecosystem.