Mumbai, Aug. 19 -- After recent bets on La Renon and Trimex Foods, US-based Siguler Guff is looking to deepen its presence in India through its latest $500 million fund, targeting mid-market, founder- and family-owned businesses where it sees significant funding opportunities, partner Shaun Khubchandani told Mint in an interview.

The $500 million corpus marks the close of its second Global Emerging Markets Growth Opportunities Fund (GEMGO II), as the investment fund looks to double down on durable themes in India.

The fund, which includes related co-investment vehicles and various separately managed accounts, has substantially stepped up its India commitments. The closure represents more than double the $238 million that the multi-strat...