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PE firm Multiples closes $430 Mn continuation fund

EntrackrEntrackr · 5m 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.

Decoding Geniemode’s Series C funding round, latest valuation and captable

EntrackrEntrackr · 7m ago
Decoding Geniemode’s Series C funding round, latest valuation and captable
Medial

Decoding Geniemode’s Series C funding round, latest valuation and captable Geniemode, a business-to-business cross-border e-commerce startup, recently announced $50 million in its Series C round led by Multiples Equity, with participation from Fundamentum, Paramark Ventures, and existing investor Info Edge Ventures. Entrackr has gone through its regulatory filings to decode the round break up, captable, and current valuation. The board of Geniemode has passed a special resolution to issue 5,601 Series C compulsory convertible preference shares at an issue price of Rs 6,60,430 each, raising Rs 370 crore. Additionally, the company has issued 667 partially paid-up equity shares worth Rs 44 crore to its co-founders, bringing the total amount to Rs 414 crore, its regulatory filing accessed from RoC shows. Multiples Equity led the funding round with an investment of Rs 223 crore ($26.2 million), followed by Fundamentum and Paramark Ventures, which contributed Rs 88 crore ($10.3 million) and Rs 36.7 crore ($4.3 million), respectively. Existing investor Info Edge also participated, investing Rs 22 crore ($2.6 million). According to Fintrackr’s estimates, the company’s post-money valuation has now reached Rs 1,800 crore or $212 million. Previously, it was valued at $160 million when it raised $28 million in a Series B round led by Tiger Global in April 2022. According to the data intelligence platform TheKredible, post-allotment co-founder Amit Sharma will hold 27.35% stake, existing investor Info Edge will be the largest external shareholder in the company with 23.2% stake in the company followed by new investor Multiples Equity holding 12.39% stake. See TheKredible for the complete shareholding pattern. Founded by Amit Sharma and Tanuj Gangwani, Geniemode is a B2B cross-border e-commerce startup specializing in furniture, home textiles, apparel, and accessories. It connects buyers with the right suppliers, streamlining the process from sample approval to shipping. Operating in more than 10 countries, Geniemode serves over 200 global buyers and suppliers. With offices in New York, London, Barcelona, China, Bangladesh, and India, it enables brands to source products internationally. For the fiscal year ending FY24, the Gurugram-based company reported a surge of over 2.6X in operating revenue to Rs 556 crore, while reducing losses marginally to Rs 77.62 crore.

ChrysCapital closes $2.2 Bn Fund X

EntrackrEntrackr · 6d ago
ChrysCapital closes $2.2 Bn Fund X
Medial

ChrysCapital has closed Fund X at $2.2 billion, the largest private equity fund raised by an India-focused firm. Fund X is a 60% increase from Fund IX of $1.35 billion, closed in 2022. The firm plans to invest the capital in established companies across consumer, healthcare, financial services, enterprise technology, and industrial sectors. ChrysCapital has now raised around $8.5 billion across ten private equity funds, a continuation vehicle, and a public markets fund since 1999. It has deployed over $5.5 billion across 110 portfolio companies and realised $7.8 billion across 80 exits with a reported 3.0x ROI. Its past investments include Intas Pharmaceuticals, Mankind Pharma, GeBBS Healthcare, Infogain, NSE, and Awfis. Fund X added over 30 new global investors, including pension funds, insurers, asset managers, and family offices from Japan, the Middle East, Southeast Asia, Europe, and the US. For the first time, ChrysCapital also raised capital from Indian institutional investors and large family offices. The fund reached its final close within six months of its first close. The firm plans to deploy Fund X over the next 3–4 years and has several transactions in progress. The strategy continues to focus on majority and minority investments in businesses with strong governance, clear growth levers, and defined exit visibility. ChrysCapital competes with PE firms active in India such as TPG, Bain Capital, KKR, Blackstone, Carlyle, Warburg Pincus, and Multiples.

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