WestBridge Raises $575M For India-Focused Investments: Report

WestBridge Capital, an India-focused venture capital and private equity firm, has raised $575 million more, taking the total to $2 billion, Times of India reported Monday. The report didn't specify when the fund raising round concluded.

Mauritius-based WestBridge typically invests money from investors, including university endowments and various wealthy foundations. The firm now has $1 billion in cash to back Indian companies, the newspaper reported, citing co-founder Sumir Chadha.

A WestBridge spokesman wasn't immediately available for comment.

Chadha and three other co-founders started the company's current avatar after leaving Sequoia Capital around February 2011. Sequoia had made its entry into India in 2006 by acquiring an investment firm -- also called WestBridge -- run by the same four co-founders.

WestBridge had $1.2 billion invested in more than 60 Indian companies, and typically invests between $10 million and $80 million in return for a substantial minority stake, according to the firm's website and LinkedIn profile. It has a preference for medium-sized companies, and about 90 percent of the firm's portfolio comprises publicly listed companies, according to the newspaper report.