BackIVFA achieves first close of $500 mn for Indium-V fund
Capital raised from over 25 investors, including sovereign funds, pension funds and fund of funds from across the globe
Premium
Mumbai: Private equity firm India Value Fund Advisors (IVFA) on Wednesday announced that its Indium–V Fund, an India-dedicated fund, has achieved the first closing of $500 million.
“Fund-V was launched in November 2014 and the final closing is expected in the next 90 days at a hard-cap of $700 million," IVFA said in a statement. Capital has been raised from more than 25 investors, including a mix of sovereign funds, pension funds and fund of funds from across the globe.
With the new fund, IVFA will continue its strategy of building a portfolio of both majority and significant minority investments. “While Fund-V is a sector-agnostic fund focused on mid-market companies, IVFA will leverage its experience and franchise in the consumer, healthcare, food, IT/ITeS and financial services sectors," the firm said. IT/ITeS is short for information technology (IT) and IT-enabled services.
“This mandate is vindication of our strategy of working closely with mid-market firms and supporting them through business cycles and the unique challenges of the Indian market. Our active involvement has helped management teams and entrepreneurs create firms that are best-in-class in their sector," said Vishal Nevatia, managing partner at IVFA.
On 30 March, the new fund announced that it has invested ₹ 220 crore in Kolkata-based non-banking finance company Magma Fincorp Ltd.
IVFA, which was established in 1999 has more than $1.8 billion under management across five funds. Since inception, IVFA has partnered with more than 30 businesses in India over the last 15 years. IVFA currently has investments in 15 firms with total revenues of over $1 billion and profits of over $200 million.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
