UAE's Gulf Islamic Investment to open office in India, invest $500mln

Financial firm is looking to partner with Indian start-ups, growth companies

  
Mumbai's financial district skyline is pictured, after air pollution level started to drop during a nationwide lockdown to slow the spreading of the coronavirus disease (COVID-19), India, April 24, 2020.

Mumbai's financial district skyline is pictured, after air pollution level started to drop during a nationwide lockdown to slow the spreading of the coronavirus disease (COVID-19), India, April 24, 2020.

REUTERS

The UAE-based Gulf Islamic Investment (GII), a financial services firm with over $2 billion of assets under management, is set to open an office in Bangalore, India, and said it will invest $500 million in the country over three years.

This follows its Indian investment debut in 2020 with India Growth Portfolio (IGP-I), which took stakes in a portfolio of healthcare companies.

The shariah-compliant firm said its current investment plan is sector-agnostic and is now keen to partner with Indian start-ups and growth companies in their Middle East expansion plans.

Mohammed Alhassan and Pankaj Gupta, founding partners and joint chief executives said in a statement on Tuesday India represented a prime investment destination for GII. 

"Given the success of our preliminary investment rounds through the India Growth Portfolio series, valued at over INR 1,000 crore ($133 million), we look forward to expanding our footprint in India and strategically contributing towards enhancing the India-UAE investment corridor."

(Writing by Brinda Darasha; editing by Daniel Luiz)

brinda.darasha@refinitiv.com

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