Private Equity

Fund News

Kotak launches pre-IPO fund; plans to raise Rs.2,000-Cr

Mint  

Kotak Investment Advisors Ltd (KIAL), the alternative assets arm of the Kotak Mahindra Group, has launched a pre-IPO fund - the Kotak Pre IPO Opportunities Fund. A category II Alternative Investment Fund (AIF), the fund has been positioned as an ‘India-focused late stage fund to invest into high quality companies with a strong moat of technology.' The fund will aim to raise INR 1,000 crore with another INR 1,000 crore as greenshoe option. It will have a tenor of 5 years from the final close. It will target investments ranging from INR 25 crore to INR 200 crore and have an average holding period of around 3 years. It will invest in sectors like fintech, consumer tech, ed tech, health tech and software as a service. B Amrish Rau, CEO of Pine Labs, Haresh Chawla, Partner, True North and Nitin Deshmukh, Advisor, Kotak Private Equity will act as advisors to KIAL for the fund is a non-binding capacity.