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Kotak Investment Advisors Limited (KIAL), the alternate asset management arm of the Kotak Mahindra Group, has successfully closed its maiden Kotak Pre-IPO Opportunities Fund, raising ₹ 2,000 crore.
The Pre-IPO Fund will invest in a range of India focused late-stage new-age businesses with a strong moat of technology.
Investments
The Kotak Pre-IPO Opportunities 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).
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.
Srini Sriniwasan, Managing Director, Kotak Investment Advisors Limited 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, Kotak Investment Advisors Limited 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.”
Tech focus
The Kotak Pre-IPO Opportunities 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.
Kotak Pre-IPO Opportunities Fund is set up as an Alternative Investment Fund under SEBI regulations and managed by KIAL.
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