Dubai-based investment group Evolvence Capital is set to list its Indian private equity fund of funds on London's Alternative Investment Market in a bid to raise $100m (€77m) in capital.

Osama Alothman, director of Evolvence, explained the thinking behind the listing: "Through the holding company we can offer investors exposure to Indian private equity fund of funds with better liquidity than if they invested directed. We also want to diversify our investors outside the Middle East."