India: New Development Bank set to invest $100m to NIIF Fund of Funds

India: New Development Bank set to invest $100m to NIIF Fund of Funds

India Gate. Photo: Abhidev Vaishnav/unsplash

The National Investment and Infrastructure Fund (NIIF) on Thursday said the New Development Bank, formerly known as the BRICS Development Bank, has committed to invest $100 million into NIIF Fund of Funds (FoF), which pumps capital into Indian private capital funds.