Motilal Oswal Private Equity Advisors (MOPE) has raised $155 million for its new Indian unlisted mid-cap companies focussed fund — India Business Excellence Fund-II (IBEF-II).
The fund-raising was done in rupee terms (1 US$=Rs 65) and the money has been raised from both international investors ($105 million) and domestic investors ($50 million), MOPE said on Wednesday.
“A significant portion of the capital has been raised from institutional investors,” it added.
“IBEF-II would invest in 12-15 mid-market companies, primarily unlisted, with the preferred themes of domestic consumption, financial services, healthcare and niche manufacturing and infra services,” it said.
IBEF-II is the second growth capital fund managed and advised by MOPE.
India Business Excellence Fund-I, the first growth capital fund, has so far returned 40 per cent capital to its investors and continues to have good traction on exiting its portfolio companies, MOPE said in a statement.
MOPE, promoted by Motilal Oswal Financial Services Ltd, is the alternative asset management business of the financial services intermediary. In addition to these private equity funds, it also manages a Rs 200-crore realty fund.