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PE firm Multiples closes $430 Mn continuation fund
Entrackr
·
2m ago
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.
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Multiples PE raises continuation fund to stay invested in three firms
VCCircle
·
3m ago
Medial
Multiples Alternate Asset Management, led by Renuka Ramnath, has established a continuation fund to maintain its investments in three companies initially supported by its second flagship fund. The private equity firm, known as Multiples PE, originally closed this fund in 2016. The creation of the continuation fund reflects Multiples PE's strategy to sustain its financial involvement and potentially capitalize further on its initial investments, underscoring its long-term commitment to these companies.
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PE Firm ChrysCapital Closes $700 Mn Continuation Fund
Inc42
·
1y ago
Medial
Private equity firm ChrysCapital has closed a $700 million Continuation Fund, anchored by US-based HarbourVest Partners and European funds LGT Capital Partners and Pantheon Ventures. The fund will allow ChrysCapital to maintain its stake in the National Stock Exchange (NSE) as it acquires ChrysCapital Fund VI's stake in the stock exchange. ChrysCapital claims to be the largest PE firm of its kind in India, having raised over $5 billion across nine funds and invested over $4 billion in more than 100 deals. The announcement comes amidst a series of new fund launches in the VC and PE space in India.
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To hold on to three trophy assets, Multiples plans a $300-400 mn fund
Livemint
·
6m ago
Medial
Multiples, a private equity firm, plans to launch a $300-400 million continuation fund to remain invested in three portfolio companies: Vastu Housing Finance, APAC Financial Services, and Quantiphi. This initiative allows Multiples to prolong backing successful investments beyond the traditional fund cycle, providing an exit route for limited partners amidst a broader liquidity crunch. Continuation funds, gaining popularity, allow investors to stay with high-performing assets while ensuring returns and timing exits based on market conditions.
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Multiples PE enters private credit, ropes in former Deutsche Bank exec
VCCircle
·
9m ago
Medial
Multiples Alternate Asset Management, a private equity firm based in Mumbai, has entered the private credit market. The firm has hired former Deutsche Bank executive Rahul Chawla as managing director of its credit strategy. Chawla brings over 25 years of experience in financing for financial sponsors. This move by Multiples comes as the firm considers a continuation fund of around $300 million to retain its stake in Vastu Housing Finance and APAC Financial Services Ltd. The firm's portfolio includes companies like Moengage, Licious, Acko, and Veritas Finance.
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Grapevine: PharmEasy, Macquarie's Vibrant Energy, Multiples PE, Greenko in news
VCCircle
·
6m ago
Medial
PharmEasy’s board is set to discuss IPO strategies in an upcoming meeting. Meanwhile, Macquarie Asset Management is reportedly resuming the sale process of its Indian renewable energy platform. In other news, Multiples Private Equity is considering a continuation fund to maintain its stake in various ventures. These developments indicate ongoing strategic maneuvers among these major players in the healthcare, renewable energy, and private equity sectors.
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Multiples plans continuation fund; HDFC rejects subsidiary stake sale to MUFG
VCCircle
·
11m ago
Medial
Multiples Alternative Asset Management, an Indian private equity firm, is looking to raise more than $300 million in a secondary deal to maintain its stake in two portfolio companies. The firm, backed by the Canada Pension Plan Investment Board, intends to utilize a continuation fund for this purpose. In other news, HDFC, a leading Indian financial services firm, has rejected a proposed sale of its subsidiary to MUFG, citing strategic reasons.
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Multiples PE makes final close of fourth fund; stops short of hard cap
VCCircle
·
10m ago
Medial
- Multiples PE has successfully closed its fourth fund, raising over $2.6 billion. - The private equity firm, founded by Renuka Ramnath in 2009, reached its fundraising goal but stopped short of its hard cap. - The fourth investment vehicle will add to Multiples PE's already substantial assets under management. - Multiples PE has established itself as a prominent player in the private equity industry. - Renuka Ramnath, the CEO and founder of Multiples PE, has been instrumental in the firm's growth and success.
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Kedaara Capital eyes $200-300 million continuation fund
Livemint
·
18d ago
Medial
Kedaara Capital is planning to raise a $200-300 million continuation fund to retain its successful portfolio companies, referred to as "trophy assets," that require more time to realize their potential beyond the regular fund cycle. This strategy allows investors to gain interim liquidity while maintaining investment in high-performing companies. Kedaara joins other funds such as Multiples and ChrysCapital that have also established continuation vehicles recently to sustain their investments.
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Multiples PE nears deal for Smallcase stake
The Arc Web
·
1y ago
Medial
Private equity firm Multiples Alternate Asset Management is considering leading a $30-40 million funding round for Smallcase, a digital investment platform backed by Zerodha and Amazon. This could value Smallcase at over $300 million. Multiples, which traditionally invests in profitable companies and fintechs, raised a $640-million fund in 2023. Smallcase, which bundles securities for retail investors, has 100 million users and facilitated $9.3 billion in investments. It seeks funds to bolster cash reserves and invest in Zerodha Fund House.
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Why continuation funds are the new favourites in investor arsenals
Livemint
·
1y ago
Medial
Indian investment firms India Quotient and Multiples PE are considering using continuation funds to stay invested in successful portfolio companies as the fund cycle nears its end. Continuation funds provide an exit for limited partners while allowing investment firms to remain invested in high-performing assets. Other firms, such as Kae Capital and Westbridge Capital, are also exploring the use of continuation funds. This vehicle offers an exit route for limited partners and eliminates early risk for new investors. Continuation funds are gaining popularity, and more of these may emerge in the coming years.
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