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Singularity AMC’s SGOF II oversubscribed at Rs 1800 Cr, eyes final close soon

EntrackrEntrackr · 4m ago
Singularity AMC’s SGOF II oversubscribed at Rs 1800 Cr, eyes final close soon
Medial

Singularity AMC, a growth equity platform for private and PIPEs, has announced that its second PE fund, Singularity Growth Opportunities Fund II (SGOF II), is oversubscribed at Rs 1800 crore. Launched in August 2023 with a Rs 1,500 crore corpus and a Rs 500 crore green shoe option, the fund saw strong investor interest, securing its first close at Rs 500 crore within a month. It focuses on Energy Transition, next-generation industrials, Consumer, Healthcare, and Financial Services. SGOF II has already backed eight companies, including Lohum, a battery recycling startup; HEG, an energy transition platform such as Sterling & Wilson Data Centre, a data center EPC provider, Sabine, an IVF healthcare company, Classic Legends, the maker of JAWA motorcycles, Qucev, a sustainable EV manufacturer and Deal 7, a luxury watch retailer. Over the next two years, the fund aims to invest Rs 75-175 crore in 12-15 companies. Founded in 2016, Singularity AMC is led by Yash Kela and Mithun Sacheti. The firm manages three funds and has invested in Swiggy, Paytm, Jana Small Finance Bank, and Jawa. Its first fund achieved a 30% IRR and is on track to reach 3x MOIC. The fund follows a structured investment approach, with 40% allocated to late-stage companies, 40% to profitable growth-stage firms, and 20% to high-conviction venture-stage opportunities. Its current portfolio is valued at Rs 492 crore, with a Multiple on Invested Capital (MOIC) of 1.2x.

Kriscore Capital announces first close of Rs 200 Cr

EntrackrEntrackr · 2m ago
Kriscore Capital announces first close of Rs 200 Cr
Medial

Kriscore Capital, a newly launched venture firm focusing on early-stage Indian tech startups, has announced the first close of its maiden Rs 200 crore ($23.3 million) fund, with an initial corpus of Rs 100 crore and a greenshoe option for an additional Rs 100 crore. The fund has secured Rs 50 crore in commitments from family offices and high-net-worth individuals. It plans to invest in 16-18 tech-driven startups at the pre-seed and seed stages, targeting sectors such as digital consumer services, supply chain resilience, global export potential, generative AI, and net-zero initiatives. Kriscore has already deployed its first investment in a stealth-mode startup. General Partner Nilesh Balakrishnan, formerly of WaterBridge Ventures, said the firm’s commitment to providing strategic mentorship alongside capital to build globally impactful businesses. Kriscore’s advisory board includes industry leaders such as D Sundaram (Infosys), Shyam Srinivasan (ex-Federal Bank), and Manish Khetarpal (WaterBridge Ventures), further enhancing the firm’s strategic capabilities.

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