Client Associates raises Rs 300 cr

New Delhi: Wealth management company Client Associates on Tuesday said it raised Rs300 crore for its maiden alternate fund CAAF, meant for investment in startups, and is looking to add another Rs 200 crore in this fiscal.

The first round of funding saw participation from domestic family offices and ultra high net-worth individuals (UHNIs), primarily comprising existing relationships of Client Associates.

“With the first close at about Rs 300 crore of the company’s AIF Cat II, Client Associates is now targeting to achieve overall commitments of up to around Rs 500 crore by exercising the green shoe option of Rs 200 crore and concluding the same during the ongoing financial year,” the firm said in a statement.