Private Equity

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Wealth advisory Waterfield's FoF attracts Rs.540-Cr

Mint  

Waterfield Advisors, a Mumbai-based wealth advisory firm, has announced the final close of its first fund of funds (FoF) at INR 540 crore from family offices, ultra-high net worth individuals, and institutional investors. The FoF invests in private equity (PE) and venture capital (VC) funds and also co-invests in growth or late-stage bets in the funds' portfolio startups with an exit horizon of four to five years. The first FoF is looking to deploy 70% of the funds in VC and PE funds, while the rest will be allocated towards direct investments in startups in financial services, consumer, healthcare, and tech sectors. To date, the FoF has made five investments, including commitments towards a PE fund, and seed and growth funds such as A91 Partners, Fireside Ventures, and India Quotient. FoF invests in the range of USD 7-10 million. Waterfield is also looking to launch its second FoF with a corpus of USD 250 million and expects to make the first close by the first half of 2023.