The fund will partner with high-quality entrepreneurs and management teams as they transition from being privately held businesses to high-performance and enduring public franchises
Mumbai: At a time when the Indian initial public offering (IPO) market is seeing a flurry of activity on the back of strong institutional and retail interest, Edelweiss Wealth Management on Tuesday said it has launched the third series of its dedicated pre-IPO and late-stage private equity fund Edelweiss Crossover Opportunities Fund with a targeted corpus of ₹5,000 crore ($700 million).
“The late-stage PE space has since gained momentum in the Indian scenario expanding to a new level of scale and opening larger opportunities. Crossover III will see the largest fund raise in the series, having raised ₹2200 crore through the earlier series," Edelweiss said in a statement.
Crossover III will continue to build on the platform’s experience, expertise, and capabilities to provide flexible and bespoke capital solutions to the market with this fund. The fund will partner with high-quality entrepreneurs and management teams as they transition from being privately held businesses to high-performance and enduring public franchises, the statement said.
“Private Equity is now a well-established asset class in India and is making significant contribution to the development of India’s emerging corporate sector, while generating strong returns for its investors. With a very strong track record in its previous tranches, the Edelweiss Crossover strategy adopts a partnership approach with its portfolio companies, where throughout the investment period, the fund team engages deeply with the company’s management to create a positive impact on their performance and thereby maximizing returns for our investors," said Nitin Jain, MD & CEO, Edelweiss Wealth Management.