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Somerset Indus Capital Partners closes Fund III at $288 Mn

EntrackrEntrackr · 2d ago
Somerset Indus Capital Partners closes Fund III at $288 Mn
Medial

Somerset Indus Capital Partners today announced the successful fundraise of its third fund, Fund III, at $288 million, exceeding its initial target of $250 million. Fund III witnessed robust participation from a diverse group of global institutional investors, including development finance institutions (DFIs), global investment firms, domestic financial institutions, insurance companies, funds of funds, family offices, and impact investors across Europe, the United States, and Southeast Asia. With Fund III, Somerset will continue to focus on addressing healthcare access gaps across India’s “missing middle,” particularly in Tier II and Tier III markets. The fund will invest in scalable healthcare businesses delivering affordable and accessible quality care across healthcare delivery, pharmaceuticals, medical devices, diagnostics, and allied sectors. Somerset typically invests between $15 million and $40 million per portfolio company. However, through co-investment syndication alongside its LP network, the firm has the flexibility to participate in significantly larger transactions in the range of $60–80 million. The additional capital will enable it to support larger and more structurally transformative opportunities across areas such as preventive care and OPD-linked insurance, healthcare financing, embedded insurance solutions, value-driven generics, India-focused MedTech innovation, and diagnostics platforms improving accessibility and standardisation beyond metro markets. Through Fund III, Somerset has already made three investments, including Cyrix Healthcare, Printmann Offset, and NU Hospitals. The firm claims that its earlier funds have delivered strong performance, with Fund I generating approximately 4.0x DPI, while Fund II is advancing toward exits, with its first realisation completed in September 2025 at approximately 4x MOIC.

PE firm Multiples closes $430 Mn continuation fund

EntrackrEntrackr · 10m ago
PE firm Multiples closes $430 Mn continuation fund
Medial

Private equity firm Multiples Alternate Asset Management has raised $430 million for a continuation fund to extend its investment in three portfolio companies — Vastu Housing Finance, Quantiphi, and APAC Financial Services. The transaction allows investors in Multiples Fund II to monetize their investments while enabling the firm to continue holding on to high-performing assets, according to a press release. The continuation fund, which was oversubscribed, is backed by four global investors — HarbourVest Partners, Hamilton Lane, LGT Capital Partners, and TPG NewQuest. Some existing Fund II investors have also rolled over their commitments into the new vehicle. Vastu Housing Finance is focused on affordable housing credit, Quantiphi provides AI and digital engineering solutions, and APAC Financial Services is an emerging financial platform with a growing nationwide presence. The fund also includes additional capital for follow-on investments in these companies. Renuka Ramnath-led Multiples has backed more than 35 companies and seen exits across IPOs, strategic sales, and secondary transactions.

RPSG Capital Ventures closes Fund II at Rs 550 Cr

EntrackrEntrackr · 1y ago
RPSG Capital Ventures closes Fund II at Rs 550 Cr
Medial

Early-stage consumer venture capital fund RPSG Capital Ventures has announced the close of its latest Fund II with Rs 550 crore. The investor base for this fund is largely domestic including family offices, high net worth individuals and industry veterans from the consumer sector. Along with other repeat investors from its previous funds, RPSG group itself has doubled their initial investment as the anchor investor. RPSG Capital Ventures has invested into 16 companies till date that includes brands such as The Souled Store, Supertails, Perfora, mCaffeine, Vedix, SkinKraft, Plix, and True Elements amongst others. “With this new Fund, we’ll continue to invest into new age consumer businesses that have solid unit economics, differentiated positioning, and strong teams.” said Abhishek Goenka, partner at RPSG Capital Ventures. The fund invests in Series A rounds with first cheques of Rs 10 to Rs 40 crore in the digitally native consumer ecosystem across F&B, beauty, health and wellness, entertainment, lifestyle goods and consumer enabler categories.

A91 Partners closes $665 Mn Fund III

EntrackrEntrackr · 11m ago
A91 Partners closes $665 Mn Fund III
Medial

A91 Partners has announced the final close of its third fund at $665 million. With Fund III, A91 plans to continue backing growth-stage businesses and supporting founders with scale and strategic capital. “We started A91 in 2018 with the following beliefs - patient capital will play an important role in accelerating value creation in Indian businesses across sectors. We also believed in the opportunity to create a world-class Indian investment firm - for founders who are aiming to build large enduring businesses from India. All these beliefs have been strengthened over the last 6 years,” said A91 Partners in a Linkedin post. Founded in 2018 by former Peak XV partners Gautam Mago, Abhay Pandey, Kaushik Anand, and VT Bharadwaj, A91 Partners was created to support Indian entrepreneurs building long-term businesses. The firm focuses on investing across sectors such as consumer, healthcare, financial services, and technology. The firm said it remains committed to being a long-term partner to both founders and Limited Partners as it continues to grow its presence in the Indian private equity landscape. A91 Partners has also made investments in sectors like coffee, spices, and home appliances, including backing brands such as Atomberg. It led a $30 million Series B funding round in Blue Tokai Coffee Roasters. The firm’s portfolio includes companies like Digit Insurance, Inshorts, Sugar Cosmetics, Exotel, Healthkart, Paper Boat, and Plum, among others. Go Digit General Insurance, one of A91’s portfolio companies, went public last year. In a recent disclosure, the International Finance Corporation (IFC) said that it is considering an investment of up to $35 million in A91 Partners’ third fund, with the possibility of committing an additional $30 million for co-investment opportunities.

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