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Investcorp raises $142m in India’s maiden private equity fund

Investcorp raises $142m in India’s maiden private equity fund
The fund has so far deployed Rs 270 Crore ($39 million) in four companies
Investcorp
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Mubasher: Investcorp, the leading Bahraini asset manager, announced the final close of its maiden Private Equity Fund offering for India.

The fund has gained a total capital commitment of around Rs 1000 Crore ($142 million), during the past few months after Investcorp established its presence in lndia, according to a bourse filing on Tuesday.

The limited partners of this fund include Indian banks, insurance companies, family offices, and international fund of funds.

Investcorp clarified that the new fund will continue to focus on consumer, financial services, and healthcare opportunities.

“The fund has so far deployed Rs 270 Crore ($39 million) in four companies namely Incred, ASG, Zolo, and Citykart. The fund also has a strong pipeline to deploy the balance capital over the next 18+ months,” Investcorp noted.

Co-CEO of Investcorp, Rishi Kapoor, commented, “The fact that we were able to close our maiden India fund offering at a size of Rs 1000 crores ($142 million) in a few months is a testament to investor confidence in our market entry approach and investment strategy for India.”