Singularity marks first close of second fund at Rs.500-Cr

Singularity AMC, a growth private equity platform, has announced the first close of its second fund – Singularity Growth Opportunities Fund II – at INR 500 crore. The fund aims at a corpus of INR 1,500 crore and is targeting final close in the next two quarters. Singularity plans to invest INR 75-175 crore in around 14-16 startups from the second fund. It has so far invested in startups like mCaffeine, Exotel, WebEngage, XYXX, and Lohum Cleantech.