The Asian Development Bank (ADB) has signed an equity investment of up to $50 million with True North VI LLP (True North VI), a fund established by the True North group (True North) to provide equity capital to middle-market companies in India embarking on their next phase of growth. True North is one of India's most experienced and well-regarded private equity fund managers.

"Through its investment in True North VI, ADB will support market leading businesses in India that require sophisticated funding solutions to realize their growth plans," said Janette Hall, ADB's Director of the Private Sector Investment Funds and Special Initiatives Division. "With its dedicated business management team, True North is able to provide significant value to entrepreneurs and management teams seeking to transform and scale their businesses into enduring and socially responsible enterprises".

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