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Multi-family office and wealth advisory firm Waterfield Advisors has raised ₹200 crore, about 40 per cent of its total target corpus, for its maiden ₹500-crore Fund of Funds (FoF).
The fund-raising came in within three months of the fund receiving SEBI approvals. The fund has an additional ₹250 crore green-shoe option, which Waterfield expects to exercise for the fund’s final close by September end.
The first close saw commitments from well-established single-family offices and ultra-high net worth (UHNW) individual, the company said in a statement.
This reaffirms the need for more institutional domestic capital to enter the Private Equity and Venture Capital (PE/VC) space in India and support home-grown investment managers, Waterfield Advisors Founder and Chief Executive Officer Soumya Rajan said.
The FoF will enable investors to secure preferential access, better economics and rights, which are generally reserved for institutional investors, it added.
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