Kotak Alternate Assets, an arm of the Kotak Mahindra Bank, has completed the first closing of its Kotak Data Centre Fund at $590 million, according to multiple news sources. The fund is seeking to raise a total of $800 million.
The Kotak Data Centre Fund, launched in November 2022, will invest in building data center capacity in India to support the data-backed digital economy, enterprise cloud, 5G and the IoT (Internet of Things).
“Being a high capex industry requiring capacity build up, we believe that there is an equity investment opportunity to back partners in creating capacities,” said Rahul Shah, executive director at Kotak Investment Advisors. “We will provide strategic risk capital and value-added support to our partners.”
Since its inception in 2005, Kotak Investment Advisors has raised, managed and advised more than $7.5 billion across asset classes including real estate, private equity, infrastructure, special situations and investment adviso