Gulf Islamic Investment of UAE will invest $500 million in India over the next three years as it takes steps to set up an office in Bangalore.
This follows its Indian investment debut in 2020 with India Growth Portfolio (IGP-I), which took stakes in a portfolio of healthcare companies.
The shariah-compliant firm said its current investment plan is sector-agnostic and is now keen to partner with Indian start-ups and growth companies in their Middle East expansion plans.
Mohammed Alhassan and Pankaj Gupta, founding partners and joint chief executives said in a statement on Tuesday India represented a prime investment destination for GII.
“Given the success of our preliminary investment rounds through the India Growth Portfolio series, valued at over INR 1,000 crore ($133 million), we look forward to expanding our footprint in India and strategically contributing towards enhancing the India-UAE investment corridor.”