BY MARK TWAIN/APIndia’s biggest private equity firm has put a big bet on a new breed of black-backed hedge fund.

Seiple Capital has bought the equity rights to Black ShouldER, a small but growing company in the Black Shouldering segment.

The hedge fund is trying to turn its focus from the private equity business to fund a hedge fund focused on investing in technology and innovation.

It’s a big move for Seiple, which is part of the larger New York-based Private Equity Group.

The fund is focused on emerging technology.

“Our objective is to focus on the opportunities for India’s emerging tech companies to grow and take the riskier bets, the Seiple investment strategy,” Seiple chairman Rajat Pandey said.

Pandey also told reporters Seiple has invested $1 billion in Black Musters, which he said is one of the fastest-growing companies in the private hedge fund world.

Panday said Seiple is not a “fund manager” but he believes Black Shouldered is a very promising venture.

Pande said the hedge fund has more than 20% ownership in Black shoulders.

He declined to say how much money Seiple invested.

Seilys CEO Vikas Agrawal, who also serves as the chairman of Black ShouldERS, said the fund is still in its early stages, but is “going to be the biggest investment we’ve ever made in India.”

Black Shouldercounts shares fell about 1% to Rs.4,932.46.

The stock has dropped more than 40% since the beginning of the year.

The shares closed down by about 11% to $1,823.40.

Pandes company was acquired by private equity group Red Hat in February.

Red Hat has also acquired Seiple and Red Hat’s technology-focused hedge fund, Red Hat Enterprise Linux.

Pandays company, RedHat, has raised nearly $4 billion from private equity firms in the past three years, according to data from Bloomberg.

In a filing with the Securities and Exchange Commission, Seiple said its investment in Black shallers was contingent on the company receiving certain regulatory approvals, including a license from the Indian government.

Seyed Pandey is Seiple’s CEO.

He said the Indian private equity sector is still small and that he expects the fund to grow.

He told investors Seiple intends to use the funds to help India’s private-equity industry.

“We are not trying to buy the whole market, but to help Indian private companies grow and to make sure we can deliver returns,” he said.

India has a booming private equity market and is also one of its largest markets.

Black Shouldery’s fund is in a similar space to Red Hat.

It aims to help smaller private-sector companies take on larger firms like IBM and Microsoft.

Seip’s investments in Black Shallers come as India has seen a surge in technology companies that rely on artificial intelligence.

The Indian government is trying harder to encourage companies to make investments in AI to improve their efficiency and reduce their costs.

SeiyaTech, India’s largest AI-focused startup, raised $100 million in a funding round in July.

The company’s AI technology has made its way to other Indian startups, including Indian Air Force and India’s telecom company, Reliance Communications.

The technology has allowed companies to offer cheaper services.

The private equity world is growing in India, where there are now more than 30 private equity funds, according a 2016 report by the consulting firm Rhodium Group.

Seijin Capital’s Pandey told reporters the private investment in Seyee has already helped the hedge funds expand.

“SeiyaTech has been a big contributor to this growth.

We see SeiyaTics future as a global AI company,” Pandey added.