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India’s Oldest PE Firm ChrysCapital Raises $850 Mn in Record 4 Months

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India's Oldest PE Firm ChrysCapital Raises $850 Mn in Record 4 Months

India’s oldest Private Equity (PE) firm ChrysCapital has closed its latest eighth fund of $850 million corpus in record four months making it fastest fund-raising by any India-bred private equity firm.

This speedy fund-raise suggests that global risk capital providers are positive despite of macro-economic uncertainties worldwide.

The four partners of the asset manager pumped in about $75 million from their side, taking the overall corpus of the fund closer to $925 million.

Founded in 1999, ChrysCapital’s partners are — former Goldman Sachs executive Kunal Shroff, ex-Ranbaxy honcho Sanjiv Kaul, former KPMG executive Ashley Menezes and manufacturing expert Sanjay Kukreja as partners.

India's Oldest PE Firm ChrysCapital Raises $850 Mn in Record 4 Months

(From left) ChrysCapital partners Ashley Menezes, Sanjiv Kaul, Sanjay Kukreja and Kunal Shroff. Photo: Manoj Verma/LiveMint.com

ChrysCapital, which has $4 billion worth of total assets under its management, is known for its 2016 investment in India’s largest stock exchange NSE and cutting other lucrative deals in non-bank financial services company Hero FinCorp and skin care specialist Curatio.

“Given our strong pace of deployment of over $200 million per year and an active pipeline, we decided to embark on raising eighth fund in August 2018,” said Kunal Shroff, managing partner at ChrysCapital.

ChrysCapital has made 80 investments in India and exited 60 of these since its inception. The firm’s notable investments in the past include Axis Bank, HCL Technologies, and KPIT Technologies.

Last month, ChrysCapital has acquired a controlling stake of 80% in US-based healthcare service provider GeBBS Healthcare Solutions, in a deal worth Rs 1,000 crore ($140 million).

In April last year, the PE firm has hired former SBI chairperson Arundhati Bhattacharya as an advisor.

Source – Times of India

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Suman Chaudhary
An engineer by education and writer by profession, Suman keeps tab on startup ecosystem of India and leads the research team of IndiaWeb2 for covering funding deals, merger & acquisition and market reports.

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