Samara Capital, a private equity firm based in India and a local partner of Amazon.com Inc., is looking to raise up to $500 million for a new fund focused on companies in Asia’s third-largest economy.
In an interview, Samara’s founder and managing director, Sumeet Narang, said the company aims to invest in businesses ranging from retail and health care to technology and finance and that the fund will close in the second half of 2022.
“We have started the roadshows and many of our existing investors across the U.S., Europe, Middle East and Asia Pacific have already signed up,” Narang said.
Samara is looking to increase its investment in a consumer market with over a billion people. Last year, nearly 120 companies, ranging from online grocers to food delivery and cosmetics startups, collected $18 billion in initial public offerings, a recent record for the country.
According to its website, the firm was founded in 2007 and has invested more than $1 billion. According to Narang, the new fund will consider investing $50 million to $400 million in mid-market companies for a controlling stake.