Religare Global Asset Management, a part of India’s diversified financial services groups Religare Enterprises, has acquired 26% stake in Delhi-based early stage fund YourNest Angel Fund.
The deal will render YourNest Angel Fund with the advantage to become an affiliate of RGAM, a global multi-boutique asset management company possessing more than $20bn assets under management.
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The SEBI registered venture capital fund, YourNest, has nurtured various digital and technology-led businesses such as Mycity4kids and Bookmycab in the last three years.
Shachindra Nath, CEO of Religare Enterprises Group, said, "With YourNest coming on board, we have strengthened our capability in the venture capital space and it further adds diversity to the RGAM platform which presents a broad spectrum of offerings and funds as per the varying needs and requirements of the marketplace."
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