Kora Management, an investment firm focused on financial and technology sectors across emerging markets, plans to invest up to $125 million in Indian financial services conglomerate Edelweiss Group.

Kora Management has committed to invest $75 million in Edelweiss'advisory business, Edelweiss Global Investment Advisors (EGIA), subject to reaching certain milestones, according to the company's media release.

The unit's activities in asset reconstruction, wealth and asset management, and institutional client group, contributes close to 50 percent of the group's profit. «Our customers will benefit immensely from Kora's acumen in technology and financial services across emerging markets, and their investment will help us scale our business in a competitive market environment,» said Rashesh Shah, chief executive of Edelweiss Group.

Cemented Partnerships

Kora, which is a long-term investor of Edelweiss Group, also plans to make a further investment of $50 million in the group, without providing a timeline.

In recent years, the Edelweiss Group has sealed several partnerships with leading global institutions such as Allianz Investment Management, and Caisse de depot et placement du Quebec, one of North America's largest pension funds.