New York-based real estate company Dhule is to join an investment fund led by hedge fund billionaire Paul Tudor Jones, sources in the United States and India have told Reuters.
The investment fund will be led by a top India-based equity investor, said a person familiar with the matter, who asked not to be identified because the matter was private.
Dhule, which has a stake in Indian conglomerate Vedanta, and several other Indian companies, has been pursuing deals in the US and Europe.
The US firm is a long-time supporter of India, having been a member of the Global Partnership for New Businesses (GPNB), an industry-wide group.
India, which accounts for almost 10% of the global capital markets, has seen a series of investment deals between India and the US in recent years, including in the technology and telecom sectors.
It is a sign of the increasing clout of the two countries’ companies in the global economy that they have been invited to join GPNB.
Dhatul Thakur, the chief executive officer of Dhule, said in a statement that the US investment was part of Dhules efforts to invest in the emerging global tech ecosystem.
Dhujal Singh, an associate professor at New York University’s Stern School of Business, said Dhule’s investment was an example of the growing power of India in the investment and finance space.
The Dhule investment is the latest in a string of moves by Indian firms in the space of the last few years.
The Indian Space Research Organisation (ISRO) recently launched the first commercial satellite, the Polar Satellite Launch Vehicle (PSLV), for the US company SpaceX.
Last year, India invested $50 million in a new venture to invest $10 billion in companies that have been investing in the Indian space sector.
Investors have also flocked to Indian companies in recent months as companies like Tata Nano, Aircel, Reliance Jio and Vodafone have gone public.
Dhules chief executive Rakesh Thakuri has said the company is committed to invest a minimum of $50 billion in the country’s economy.
Dhimmitra, a leading technology incubator, has announced that it is investing $1 billion in a venture to create a new technology incubation center in India.