MUMBAI: Waterfield Advisors, a multi-family office and wealth advisory firm, on Thursday said it has hit the first close of Rs200 crore of its maiden Rs500 crore Fund of Funds (FoF), raising 40% of the targeted corpus within three months of receiving SEBI approval, the firm said in a statement.
The fund will invest in Indian private equity and venture capital funds.
The fund has an additional Rs250 crore green-shoe option, which Waterfield expects to exercise to achieve a final close of the Fund by end September this year, the statement said.
The first close saw commitments from single family offices and ultra-high net worth (UHNW) individuals, who see the FoF as an opportunity to build a well-diversified portfolio of top quartile domestic venture capital and private equity funds, it said.
“We are delighted to announce the first close of our Fund of Funds, which reaffirms the need for more institutional domestic capital to enter the Private Equity and Venture Capital (PE/VC) space in India and support home-grown investment managers. We are particularly encouraged by the strong support we have received from Family offices, UHNI and HNI’s who recognise the benefits of our strong analytics capabilities and relationships in the PE/VC space, which help them access top-quartile managers, with the additional benefit of institutional rights,” said Soumya Rajan, Founder & CEO of Waterfield Advisors.
Established in 2011, Waterfield advises on over $3.6 Billion of assets on behalf of several prominent Indian business families. Waterfield advises its clients on financial and estate planning, succession planning, family governance and philanthropy.
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