Kotak Investment Advisors raises $185mn for pre-IPO fund
Kotak Investment Advisors, the alternate assets business of the private sector bank
image for illustrative purpose
Mumbai: Kotak Investment Advisors, the alternate assets business of the private sector bank, on Monday announced a fundraising of Rs 1,386 crore or $185 million to take bets on companies just before their initial public offerings (IPOs).
Investors in the fund include several family offices, including Infosys co-founder N R Narayana Murthy's Catamaran, said an official statement adding that this is the first close for the 'Kotak Pre-IPO Opportunities Fund'. The pre-IPO fund will invest in India-focused late-stage new-age businesses with a strong moat of technology, robust unit economics, scalable business models and exit visibility, it said.
Kotak Investment Advisors had initially set out to raise Rs 1,000 crore, which was oversubscribed within three months of the launch, leading it to exercise the greenshoe option of Rs 386 crore, it said. It has already made investment commitments in two deals worth $44 million, with one of the deals being API Holdings, the parent company of PharmEasy.
