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IFC commits $40.6M to PE firm Multiples' second fund 

World Bank's private investment arm International Finance Corporation (IFC) has proposed to put in $40.6 million (Rs 270 crore) in Indian private equity firm Multiples Alternate Asset Management Pvt Ltd's second fund.
Led by former ICICI Venture CEO Renuka Ramnath, Multiples is looking to raise a total of $550-600 million in its second outing, as per an IFC disclosure.
If it is successful, Multiples will cross the $1 billion assets under management (AUM) mark, coupled with the assets under its first fund.

The fresh funds will be used to invest in equity and equity-linked instruments of mid-market companies in India across sectors such as consumer, financial services, healthcare, IT services, logistics and agriculture. 
Besides IFC's proposed $40.6 million investment, its fund management business – IFC AMC – will also make a parallel investment, the statement added. It did not say how much will IFC AMC put in the PE fund.