PE firm Multiples plans $1.2-B fundraise in 2027: report

Mumbai-based private equity firm Multiples is to initiate a fundraising process next year for its fifth fund, targeting a corpus between USD 1-B and USD 1.2-B. The firm has currently deployed between 50% and 70% of its previous fund.Founded in 2009 by Renuka Ramnath, the firm manages over USD 3-B in assets with investments across sectors such as financial services, pharmaceuticals, healthcare, consumer goods, technology, and the green economy. Multiples has previously backed companies including Delhivery, South Indian Bank, PVR Inox, Dream11, Encube, RBL Bank, Acko, Kogta Financial, and Veritas Finance. Additionally, the firm recently established a USD 430-M continuation fund to extend its holdings in specific assets such as Vastu Housing Finance, Quantiphi and APAC Financial Services.