Is it true that Anil Agarwal is launching a start-up fund in India?

That is absolutely correct that the founder of the Vedanta group, Mr. Anil Agarwal, is preparing to raise an investment fund targeting turnaround opportunities in the country. Vedanta Resources is working with Centricus Asset Management Ltd. on these plans.

The proposed fund will also target companies that are undergoing restructuring as per India’s bankruptcy regime and are open to both private and public firms. It looks like Agarwal is seeking to find the gems among the dozens of companies being sold.

Centricus oversees $27 billion in assets across asset classes. Centricus is a alliance of former employees of Deutsche Bank and Goldman Sachs.