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The Mumbai-based firm is targeting 40 billion rupees ($479 million) for its latest Nuvama Crossover IV fund and expects to raise at least $300 million from family offices and rich individuals in the Middle East, according to Anshu Kapoor, president and head of the business.
SHARE While fast-growing US tech stocks have been driving returns on the S&P 500 for the past decade, that trend accelerated in 2020 as the pandemic and lockdowns drove demand for digital services. And it was the biggest tech companies that enjoyed the lion’s share of the growth. At the start of 2020, the five largest companies – Apple, Amazon, Facebook, Microsoft and Alphabet (Google) – made up around 17.5 per cent of the S&P 500 index. That rose to 22 per cent by the end of the year. This growth means that many investors have a higher concentration of these companies in their portfoli...