UAE-based asset manager Gulf Islamic Investment (GII) is set to grow its India business after announcing plans to open an office in Bangalore.
The firm has also pledged to invest $500 million in the country over the next three years.
GII launched its first Indian fund last year – the India Growth Portfolio – which has invested in a number of India-based healthcare companies.
While stating that its investment plans are sector-agnostic, GII has also said that it plans to partner with Indian startups and growth companies looking to either set up or expand their Middle East presence.
“Given the success of our preliminary investment rounds through the India Growth Portfolio series, we look forward to expanding our footprint in India and strategically contributing towards enhancing the India-UAE investment corridor,” stated Mohammed Alhassan and Pankaj Gupta, founding partners and joint chief executives.
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