True North, an India-focused private equity firm formerly known as India Value Fund Advisors, has reportedly sold the majority of its 74 percent stake in India-based financial services group Fincare Business Services to LeapFrog Investments, TA Associates and Tata Capital Private Equity’s Tata Opportunities Fund. Kotak Life Insurance, SIDBI Venture Capital and several family offices also participated in the transaction, which included both primary and secondary share sales and reportedly totaled US$75 million. True North originally invested US$40 million in the company in 2010. Fincare plans to use the proceeds from the deal to start small finance banking operations in the first half of this year