Private Equity

Fund News

Edelweiss raises Rs.1,500-Cr for pre-IPO fund to invest in tech biz leaders

Mint  

Private Equity firm PAG-backed Edelweiss Wealth Management has raised INR 1,500 crore for the final close of the third series of its pre-initial public offering (IPO) fund Edelweiss Crossover Opportunities Fund and has launched the next series of the fund to raise another INR 1,500 crore. The crossover series of late-stage funds from Edelweiss have raised a total of more than INR 3,700 crore across its first three series. Edelweiss plans to raise INR 7,500 crore through its crossover fund. The crossover funds are tapping into demand from domestic investors looking for early access to high growth technology firms that are gearing up to go public. The funds will look to build a portfolio of 10-15 firms with investments of INR 150-300 crore in each company and will invest in firms that are three to four years away from an IPO. The fund will invest in leaders in technology businesses.