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Paragon Partners, a mid-market focused private equity firm, has raised $120 million for its maiden fund - Paragon Partners Growth Fund-I - from a diverse mix of domestic and global investors.
The fund’s limited partners include a large sovereign wealth fund, a development financial institution, funds of funds, insurance companies, family offices and High Networth Individuals (HNIs).
“We are today well positioned to pursue the opportunity we have identified in the mid-market in India. Our aim is to build a best-in-class investment firm to support the growth of our investee companies and generate superior returns for our limited partners in the process,” said Siddharth Parekh, Co-Founder and Senior Partner at Paragon Partners.
Paragon Partners targets investments in the mid-market space in India and focuses on opportunities in core sectors, including consumer discretionary, financial services, infrastructure services, manufacturing & industrials and healthcare services.
The firm pursues a growth capital strategy that involves an active role in value creation in its portfolio companies, especially in the areas of business development, operational efficiencies and organisational development.
Paragon Partners makes invests about $10-15 million per transaction, targeting significant minority ownership stakes. The fund has already made four investments aggregating about $45 million.
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