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Carpediem Capital raises Rs.450-Cr for second fund; aims for closure in May

Economic Times  

Carpediem Capital has received commitments for INR 450 crore from investors for its second fund, which it is aiming to close in May. The commitments received so far account for about 65-75% of the initial target of INR 600-700 crore. The fund has invested in two companies — Fornax and Sindhuja Microcredit (top-up investment after the first investment from fund I) — from the second fund, while INR 380 crore has remained undeployed. It is planning two-three new investments in 2023 in the FMCG, food and retail space. Carpediem has fully invested the first fund, Carpediem Capital Partners Fund I with a corpus of INR 204 crore. It invested in eight entities from the first fund between 2016 and 2020, and exited one of the investments, Yaantra, in February last year by selling its stake to the Walmart Group, generating a fourfold return. The fund's portfolio companies include Adinath Agro Processed Foods, Biryani Blues, medical devices distributor ColMed, interior designing service provider Flipspaces Technology Labs, value retail chain 1-India Family Mart, and fashion jewellery company Sukkhi Online. The entire divestment process may be completed by 2025.