Private equity fund Next Orbit Ventures has received interest from investors in UAE to invest in its $750 million funds focused on the electronic system design and manufacturing (ESDM) sector.
UAE International Investors’ Council, includes 18 UAE entities such as Mubadala Development Co., DP World, Etisalat, Emma, has shown keen interest to invest in the fund. While 49% (about $360 million) of the fund is expected to come from the Indian government, the rest will be raised from investors in India and abroad.
The fund will invest in digital, analog and solar fabrication (FABS) projects along with semiconductor design, electronics, light-emitting diodes (LED) and solar products to feed those FABS.
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