Sistema Asia Capital, the venture arm of Russian private investment firm Sistema PJSFC, has been caught in a liquidity limbo as the firm struggles to find buyers for its Asian portfolio.
According to several sources aware of the development, Sistema Asia Capital placed its India and Southeast Asian venture portfolio on the secondary market after Russia’s invasion of Ukraine earlier this year. However, it has been met with little to no buyer interest, due to the political implications of being associated with Russia.