ADB invested USD 50 million in True North VI LLP

Vastavam web: The ADB today said it has invested USD 50 million in True North VI LLP (True North VI) to provide equity capital to middle-market companies in India embarking on their next phase of growth.True North was established in 1999 (as India Value Fund) with a view to investing in mid-sized, India-centric businesses.True North VI is a closed-end private equity fund that aims to make up to 10 equity investments between USD 50-150 million each in financial services, healthcare, and consumer sectors.True North may also target investments in technology products and services companies, Manila-headquartered Asian Development Bank (ADB) said in a statement.