Multiples Alternate Asset Management (‘Multiples’) has announced the successful first close of its Fund IV, with a subscription of over $640 million.

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Multiples Fund IV brings together a unique combination of leading global institutional investors such as CPPIB and IFC, local institutions like SBI and private insurance companies, and leading domestic family offices.

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Sudhir Variyar, MD & Deputy CEO, Multiples Alternate Asset Management said, “This fundraise is yet another important milestone in the growth and evolution of Multiples as an institution, providing wings to the dreams and aspirations of entrepreneurs. We are excited about the India opportunity and the tremendous entrepreneurial energy that’s propelling the country forward. We acknowledge the trust and confidence placed in us by our investors and look forward to continuing to create value and delivering cash returns.”

Multiples has backed 30 Indian businesses including Encube, Zenex, PVR, Delhivery, Dream Sports, Quantiphi, Vastu Housing Finance, ACKO, Licious and MoEngage.