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Wealth Management Firm Client Associates Announces First Close of its Maiden Fund at INR 300 Cr
Wealth management firm Client Associates has announced the first close of its maiden fund, Client Associates Alternate Fund (CAAF), at about INR 300 crore.
The Gurugram-based platform is now targeting to achieve overall commitments of up to INR 500 crores by exercising the green shoe option of INR 200 crores and concluding the same during the ongoing financial year.
The fund aims to invest between INR 10 to INR 50 crore each company in order to create a robust portfolio of 12 to 15 enterprises.
According to the firm, CAAF’s investment strategy focuses on identifying and supporting pre-Series A, Series A, and pre-Series B and Series B stage companies predominantly in the consumer and consumer-related sectors, along with financial services.
Himanshu Kohli, Co-founder, Client Associates, said, “CAAF represents a significant milestone for us as we venture into the realm of asset management.”
Founded in 2002 by Himanshu Kohli and Rohit Sarin, Client Associates provides professional services for private wealth management, overseeing assets under advisement totalling around USD 5.5 billion for over 1,100 HNIs and UHNIs families across India.
With a team of over 225 professionals, it has presence in Gurgaon, Mumbai, Bengaluru, Kolkata, Patna, Hyderabad, Chennai, Kochi, and Ahmedabad.
InCred Alternative Investments Announces First Close of its Maiden PE Fund at INR 330 Cr
InCred Alternative Investments has announced the first close of its maiden private equity fund, InCred Growth Partners Fund – I (IGPF – I), raising over INR 330 crore.
The successful fundraising round saw support from large HNI/UHNI investors, leveraging the strong wealth network of InCred.
As per the official release, IGPF-I is targeting a final close of INR 500 crore and is focused on investing in growth and late-stage companies across consumer, financial services, and enterprise/technology sectors with an average ticket size of INR 40–80 crore.
Vivek Singla, Managing Partner and CIO, Private Equity, InCred Alternatives, said, “The successful first close of IGPF-I is a testament to our strong track record and the trust placed in us by our investors. It is also resonant of the confidence returning to the private equity space, with private market valuations being at realistic levels and a stark shift in the founders’ mindset from ‘growth at any cost’ to ‘profit after all costs.”
After hedge funds and private credit, InCred Alternatives offers private equity as its third alternative strategy. With this round of fund raising in IGPF – I, InCred now has approximately INR 3,000 crores of total funds under supervision under various strategies, including alternatives and equities.
With initial contributions topping INR 300 crore, InCred Alternative Investments, a division of InCred Capital, closed its second credit fund, InCred Credit Opportunities Fund-II (ICOF-II), in February of this year.
The lending division of the InCred Group, InCred Finance, achieved unicorn status in December of last year when it raised USD 60 million in a Series D round headed by Ranjan Pai of MEMG, Ravi Pillai of RP Group, and Ram Nayak of Deutsche Bank. Varanium Capital Advisors, Sattva Group, family offices, and ultra-high-net-worth individuals also contributed to the funding.