Waterfield Advisors announces the final close of its Fund of Funds (FoF) I at INR 540 Crore. The fund was launched in early 2021 to raise Rs 500 crore with the first close done in June 2021 at Rs 200 crore. The fund is now oversubscribed, with the final close marked at Rs 540 crore.
Till date, around 64 per cent of the fund has been committed to five funds across private equity and venture capital funds with ticket sizes ranging $5 million to 10 million and around 6 per cent of the fund has been invested in one company as a co-investment.
Approximately 70 per cent of the fund will be deployed into 5-6 PE/VC funds that focus on early-stage venture to growth stage private equity in India and the remaining 30 per cent of the fund will be deployed directly in 4-5 companies as co-investments.
Rohan Paranjpey, Managing Director – Alternative Investments, Waterfield Advisors, commented on investment, “As pioneers of Fund of Funds in the country, our aim was to bring the Indian investors up to speed with how global investors look at the market, and at the same time be a partner to GPs. Arriving at the final close of our first FoF, we have got a great set of GPs across all the stages of investing, and the portfolio is extremely thoughtfully constructed. What truly sets us apart is our deep understanding of the Indian PE/VC ecosystem.”
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