Comments
Kotak Investment Advisors Limited (KIAL) on Tuesday said it has successfully closed its maiden Kotak Pre-IPO Opportunities Fund, raising ₹2,000 crore.
The Pre-IPO Fund, which has been set up as an Alternative Investment Fund under SEBI regulations, will invest in a range of India-focused late-stage new-age businesses with a strong moat of technology, per a KIAL statement.
“The Fund has already made investments worth ₹653 crore in 5 deals and has another ₹405 crore worth deals in various stages of evaluation and execution.
“Some of the investments made so far by the fund include API Holdings, the parent company of PharmEasy, Pine Labs, Mobile Premier League, PB Fintech (Policy Bazaar) and FSN Ecommerce (Nykaa),” KIAL said.
The investors in the fund include several family offices such as Catamaran, the family office of NR Narayana Murthy and Skywalker, the family office of Rubamin group, according to the statement.
Strong tech focus
KIAL underscored that the Fund will target high-quality companies across sectors, especially with a strong technology focus, robust unit economics, scalable business models and exit visibility.
The focus will be on technology-oriented companies including technology-enabled companies in traditional industries.
KIAL is the alternate asset management arm of the Kotak Mahindra Group.
Srini Sriniwasan, Managing Director, KIAL, said, “The swift pace of digital adoption by individuals, SMEs or enterprises has opened up the opportunity for the tech eco-system to respond with unique and scalable business models with significant long-term growth potential.
“Kotak Pre-IPO Opportunities Fund enables our investors to participate in this growth story as these companies become part of public markets over time.”
Srikanth Subramanian, CEO, Private Wealth - Investment Advisory, KIAL, said, “There has been an abundant supply of technology-led companies looking to list in the near term and we have carefully curated a good fund portfolio. We will stick to the discipline of picking the right company at the right price.”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.