VC Circle – Manmohan Shetty-promoted Adlabs Entertainment Ltd, the firm behind theme park Adlabs Imagica, has raised Rs 60 crore (just under $10 million) from a bunch of anchor investors including a hedge fund under Edelweiss, besides a string of mutual funds under Axis, L&T Fin, HDFC AMC and a fund under Daiwa.
Forefront Alternative, a domestic hedge fund acquired by Edelweiss last year, brought in Rs 14.4 crore, two funds under Axis MF committed Rs 9.6 crore, two funds under L&T MF brought in Rs 15 crore and the rest came from funds under Daiwa and HDFC AMC.
