Bharat Value Fund Marks First Close Of Third Fund At INR 1,250 Cr

Bharat Value Fund Marks First Close Of Third Fund At INR 1,250 Cr

SUMMARY

The fund has a target corpus of INR 2,500 Cr (around $289 Mn), includes a greenshoe option of INR 1,000 Cr and is expected to be closed by mid this year.

In a statement, Bharat Value Fund claims to have marked the first close of its third fund within 45 days while building on its fund raising trajectory

The fund will target mid-market, high-growth enterprises with revenues between INR 300 Cr and INR 1,000 Cr 

Pre-IPO investment opportunity focussed Bharat Value Fund has announced the first close of its third investment fund at INR 1,250 Cr (around $144 Mn).

The fund, with a target corpus of INR 2,500 Cr (around $289 Mn), includes a greenshoe option of INR 1,000 Cr and is expected to be closed by mid this year.

The fund is being managed by The Wealth Company Pvt Ltd (erstwhile Pantomath Capital Management Pvt Ltd).

In a statement, Bharat Value Fund claims to have marked the first close of its third fund within 45 days while building on its fund raising trajectory.

It aims to allocate the raised capital across various sectors and also plans to invest in resilient and asset backed businesses.

Through BVF, the fund will target mid-market, high-growth enterprises with revenues between INR 300 Cr and INR 1,000 Cr, the statement added.

“Such businesses are often rooted in Tier II and III cities and are strategically positioned for scale, profitability and value creation,” it said.

“The Wealth Company is committed to fostering India’s mid-market growth through strategic investments and active ownership,” said Madhu Lunawat, managing director at the company.

BVF has raised a total of INR 3,000 Cr across its Series 2 and Series 3 fund raise and claims to be one of the fastest growing alternative investment funds.

Also the fund will have a structured exit strategy which includes IPOs within 30-36 months, while offering alternative paths such as private equity investment and mergers and acquisitions.

It is pertinent to note that last week, the VC reportedly invested 161 Cr (around $18.6 Mn) in the Mumbai-based electric vehicle startup BGauss.

The development comes at a time when a number of VC firms have announced funds to invest in different sectors of the Indian startup ecosystem.

For instance last week, SaaS-focussed VC firm Cornerstone Ventures announced the first close of its second fund at about $40 Mn (INR 345 Cr) with a target corpus of $200 Mn, to back innovative B2B technology startups.

Yesterday (on January 20), cloud infrastructure provider Sify Technologies is also aiming to invest $5 Bn in India over a period of five years to build smaller AI inferencing facilities in 20 tier-II cities.

Mamaearth backer Stellaris Venture Partners also marked the final close of its third India-focused fund at $300 Mn (around INR 2,534 Cr) in November last year.

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