BENGALURU : Bengaluru: ChrysCapital has closed its largest ever continuation fund at $700 million, anchored by investors including HarbourVest Partners, LGT Capital Partners, and Pantheon Ventures, the private equity firm said on Tuesday.
The new fund, meant to take on the portfolio of earlier fund, has acquired a stake in the National Stock Exchange of India Ltd that originally belonged to ChrysCapital’s Fund VI, which had invested in NSE in 2016.
The transaction has allowed investors in ChrysCapital’s Fund VI to “monetize the performance on a highly successful investment”, the PE firm said in a statement. The investors were provided with the option to roll their value into the continuation fund.
“The landmark transaction was well oversubscribed and is the largest of its kind in India and ranks among the largest across the Asia Pacific,” ChrysCapital said.
While HarbourVest Partners and LGT Capital Partners led the structuring of the continuation fund, UBS Private Funds Group was the exclusive financial adviser to ChrysCapital.
Founded in 1999, ChrysCapital has raised over $5 billion across nine funds and backed marquee companies including Infosys Ltd, Hexaware Technologies Ltd, Bajaj Auto Finance Ltd, Mahindra Finance Ltd, Axis Bank Ltd, Shriram Finance Ltd, Torrent Pharma, GVK Bio, Cavincare, and Suzlon Ltd.
ChrysCapital has also invested in Lenskart, Wow Skin Sciences, Quest Global, Bandhan Bank, Mankind Pharma, Kims Hospital, Intas Pharma, and Livguard.
The company, which aims to raise $2-2.2 billion for its tenth fund, typically invests about $100 million in a company, but may increase its ticket size from the new fund onwards, Mint reported earlier this year, citing people familiar with the matter.
Separately, ChrysCapital is also raising Clarus, an alternate investment fund to invest in publicly traded companies. It has already raised ₹500 crore towards the first close of the category-3, open-ended AIF.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates & Live Business News.
More
Less
Published: 30 Apr 2024, 05:52 PM IST
#ChrysCapital #closes #continuation #fund #million
