4 Funds Invested in Adani Firms Have History of Bets Gone Wrong: Report Before the Adani investment, the four funds held significant stakes in two companies whose founders fled India, another that went bankrupt, and a fourth that was liquidated after sparring with Ethiopian government Updated: July 28, 2021 9:23 am IST Four Mauritius-based funds that have attracted attention for parking almost all their money in companies controlled by Indian billionaire Gautam Adani have a history of investing in firms which ended up defaulting or were investigated for wrongdoing. Before they put about 90 per cent of their $6.9 billion under management in the Adani empire, the funds -- Elara India Opportunities Fund, Cresta Fund, Albula Investment Fund and APMS Investment Fund -- held significant stakes in two companies whose founders fled India and have since been probed for money laundering, another that went bankrupt, and a fourth that was liquidated after sparring with the Ethiopian government.