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Private equity platform Xponentia raises Rs 1,000-Cr in new fund

A private equity platform, Xponentia, announced that it had raised Rs 1,000 crore in its second fund, almost entirely from domestic investors. According to a statement, the platform will invest funds in companies across various sectors, including consumer, healthcare, financial, and business services.  

According to the statement, the target of raising Rs 750 crore was oversubscribed and exceeded.

Other than the investors in the first fund, new investors, such as High Net Worth Individuals (HNIs), family offices, insurance companies, and the “fund of funds” programme run by the Small Industries Development Bank of India (SIDBI), have invested in or made financial commitments to the second fund.

Devinjit Singh, managing partner of the platform, claimed that a conviction that Indian institutions and family offices were under-invested in alternative assets led him to leave Carlyle and start the platform in 2018. 

“Investor appetite for the asset class has increased faster than I imagined, and we have raised the fund almost exclusively from the domestic market,” Singh added.

It had announced the first close of the second fund at Rs 270 crore in July of last year, and it has since made four investments, including in commercial electric vehicle manufacturer Altigreen, new age fintech platform Zype, casual wear brand The Souled Store, and education financing company Auxilo.  

Further, the statement said that Xponentia has fully invested the first fund, betting on eight companies in total.

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