The Ontario Teachers’ Pension Plan is acquiring a minority stake in India-based financial institution Kogta Financial Ltd. through a Series E investment transaction worth US$148 million.

The firm specializes in the secured vehicle and micro-, small- and medium-sized enterprises financing space with loans. The funds from the transaction will be used as primary capital for growth at Kogta.

“Our investment in Kogta underscores our commitment to identifying and backing high-growth opportunities in India’s vibrant financial services sector,” said Deepak Dara, senior managing director and head of India for Ontario Teachers’, in a press release. “We are excited to partner with them to further accelerate their growth trajectory.”

Read: Ontario Teachers’ backs Indian financial software company, invests in German logistics assets

In other news, the Caisse de dépôt et placement du Québec is buying a minority stake in European software-as-a-service provider Aareon, as part of a larger transaction alongside San Francisco-based private equity firm TPG Inc. The deal is valued around €3.9 billion.

“We are in an ideal position to capture further growth opportunities and welcome TPG and CDPQ as experienced and strong new partners,” said Harry Thomsen, chief executive officer at Aareon, in a press release.

Read: Caisse invests up to €300 million in European data centre operator, CPPIB sells Amitra Capital