Mumbai, Apr 13 (PTI) Equity-focused investment managers Quest Investment Advisors on Thursday announced its third fund as an alternative investment fund with a planned corpus of Rs 500 crore.

The proposed smart alpha rising leaders fund will be focused only on small and mid-cap companies, Quest said in a statement.

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The fund will identify over 20 companies in the smallcap and midcap space in sectors, which have the potential to deliver higher growth, chief investment officer Aniruddha Sarkar said.

The city-based Quest manages over Rs 2,100 crore of equity investments for over 1,400 clients spanning family offices, corporates, HNIs, and NRIs across PMS, AIF and offshore strategies since 1992.

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*CreditAccess Grameen raises USD 20m from Austrian bank

The largest microlender CreditAccess Grameen has raised USD 20 million in external commercial borrowings from Oesterreichische Entwicklungsbank, which is the development bank of Austria.

Credit Access, which has a loan book of over Rs 21,000 crore, will deploy the money for on-lending and the fund-raise comes on the heels of its first ESG fundraise from Swedfund International.

Udaya Kumar Hebbar, the CEO of Credit Access, said the latest fundraising is the third ESG-linked loan totalling USD 80 million so far. The funding was arranged through Northern Arc.

Oesterreichische Entwicklungsbank has been operating as the development bank of Austria since March 2008 and specialises in long-term finance for private sector projects in developing countries.

**** *Proost Beer raises Rs 8.5 cr from angel investors

Delhi-based Proost Beer has raised Rs 8.5 crore in debt and equity from Mumbai Angels, Hyderabad Angels, Speed Fund, GetVantage, Finnvolve, and a few other angels apart from existing investors Dauble and Dev Punj.

The company will use the money to expand its production capacity, enter new markets, and for working capital requirements, said the company founded in 2017 by Tarun Bhargava and Vijay Sharma.

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