Fund News
Amara Partners raises Rs.650-Cr out of targeted Rs.800-Cr for first fund
Mumbai-headquartered Amara Partners, the private equity fund launched by former Mahindra & Mahindra PE unit head Parag Shah, is set to raise its debut fund at INR 800 crore, with Anand Mahindra as a key investor. The fund has raised INR 650 crore domestically and saw participation from about 20 industrialists and their families across India. It plans to raise about INR 150 crore from multinational executives.As part of the green shoe option, Amara is launching an exclusive platform called the Amara Leadership Circle - a curated investor pool comprising CEOs and senior leaders of large Indian and multinational companies.The fund targets mid-sized companies in the manufacturing/industrials, financial services, consumer sector and healthcare. The fund has already made two investments - in auto components maker Lumax Auto Technologies and NBFC Fibe.Amara will focus on sub-segments such as precision manufacturing, auto components, electronics & semi, speciality materials and chemicals, building materials, speciality packaging.The fund will target 10-12 investments over its lifecycle with ticket sizes ranging from USD 10-15 million and will have the ability to invest up to USD 20 million with co-investments from its LPs.
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