Mumbai: Financial services group Centrum on Tuesday announced the launch of its maiden private equity fund—Kalpavriksh, the group said in a press release.
The fund will have a corpus of Rs500 crore, the statement said.
“The fund will invest in mid-sized, un-listed companies with a growth potential in fintech, education tech, healthcare and FMCG (fast-moving consumer goods) sectors," it said.
The private equity fund will have a life of five years with an option to extend it for two years and will focus on investing in the Indian consumption growth story.
Giri Krishnaswamy, who has previously worked with organisations, including Inditrade, Nestle and Ranbaxy, has been named the chief investment officer.
“Kalpavriksh, is the first in the series of PE funds that we will raise. There is an increased appetite from domestic HNIs (high net-worth individuals) to be a part of sophisticated investment vehicles such as private equity funds," said Jaspal Bindra, chairman of Centrum Group.
The sectors that Centrum is focusing on are purely demand driven and have a potential of growing multi fold over the next 4-5 years, he said. “We will continue to launch innovative products and explore new investment opportunities for our clients," Bindra added.
Centrum also has a partnership with India Property Advisors Ltd (IPAL), which is a real estate private equity fund.