funding 3

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.

chrystalyscapital partnersJPG

(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.

RELATED READING  India's PE Investments in 2018 is Highest Ever at $33 Billion

Source – Times of India

Like this content? Sign up for our daily newsletter to get latest updates.

Comments

Comments

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You may also like