Private equity firm Mandala Capital is raising $250 million for a new fund, which will invest in agri-businesses in India. The Mauritius-based firm has invested $180 million so far, all in India-based companies involved in agriculture. Mandala Capital looks for opportunities to provide growth capital in public equity investments. The new fund, the firm’s second, has made first close of $140 million, and expects to reach final close by December.