Home-grown private equity fund ChrysCapital receive funding of $600 Million for its seventh offshore funds from GIC Holdings Pvt Ltd, Asia Alternatives Management, and Harvard Management Co.
The firm was in talks to raise the fund since 2015 November. The deal was successfully closed on Tuesday. The company will invest its new funds in focus business sectors like financial services, pharmaceuticals, healthcare, manufacturers and consumer sectors. The clients of the Private Equity firm includes Infogain India Pvt Ltd, KPIT Technologies Ltd, Cyient Ltd, Liquidhub Inc, Au Financiers, Federal Bank, Karur Vysya Bank, Torrent Pharmaceuticals Ltd and Intas Pharmaceuticals.
The firm was founded by Ashish Dhawan, who moved out 5 years ago. Now the firm is led by Kunal Shroff along with three partners Sanjiv Kaul, Sanjay Kukreja and Ashley Menezes. Kunal Shroff is responsible for the two of the companies most prior funding-Chrys Capital III & IV.
ChrysCapital claims to make total of 80 investments in India, in which 60 of them have been successfully closed. Till now, about $4 Billion of funds are used for the investments. With the newly raised funds, Chrys Capitals have already invested in two firms. The first investment was made in a mid-tire IT service firm L&T Infotech and the second investment was made in HERO FinCorp.
The latest fund has attracted interest from a combination of investors, referred to as limited partners (LP) in the private equity industry, that include insurance companies, university endowments, and family offices.
The Firm is in process of monetizing the last remaining investments from its fifth funding. The previous four funding have been successfully realized. This makes ChrysCapital the only Indian Private Equity firm which has successfully utilized it’s $4.5 Billion funds from its five Funding.
ChrysCapital invests about $40-$50 Million per transactions. The firm has also closed its sixth round of investment of $510 Million in 2012. Read more funding news.