SBI Funds Management is planning a $200 million technology-focused alternative investment fund with venture capital firm 3one4 Capital, marking its entry into India's booming AIF market. The move highlights rising institutional interest in private technology investments as alternative assets gain traction among wealthy investors.

SBI Funds Management, whose billion-dollar IPO garnered bids worth $31 billion, made a subdued debut with shares listing at a 7% premium.

SBI Funds Management is planning a $200 million technology-focused alternative investment fund with venture capital firm 3one4 Capital, marking its entry into India's booming AIF…