Samara Capital, an India-focused non-public fairness agency and a neighborhood associate of Amazon.com Inc., is planning to boost as a lot as $500 million for a brand new fund focusing on corporations in Asia’s third-biggest financial system.
The Mumbai-based firm is seeking to spend money on companies starting from retail and well being care to know-how and finance, and plans to shut the fund within the second half of 2022, Sumeet Narang, Samara’s founder and managing director, stated in an interview.
“We have now began the roadshows and lots of of our current traders throughout the U.S., Europe, Center East and Asia Pacific have already signed up,” Narang stated.
Samara is looking for to step up investments in a client market of a billion-plus individuals. Nearly 120 corporations, together with on-line grocers to meals supply and sweetness startups, raised about $18 billion in preliminary public choices final yr, a file for the nation.
Based in 2007, the agency has invested greater than $1 billion since inception, in keeping with its web site. The brand new fund will think about investing $50 million to as excessive as $400 million in mid-market corporations for a controlling stake, Narang stated.
Samara and Amazon are companions in Witzig Advisory Companies Pvt., an funding car that acquired Extra Retail Pvt. in 2019 from billionaire Kumar Mangalam Birla’s conglomerate Aditya Birla Group. Extra Retail is weighing an IPO that would elevate as a lot as $500 million at a valuation of $5 billion, Bloomberg Information reported in December.
Offers involving non-public fairness companies have been rising in India as extremely indebted conglomerates look to promote companies to assist pay debt, whereas succession planning prompts some tycoons to get rid of property and arrange household workplaces. Simple loans are additionally serving to PEs to finance buyouts.
Carlyle Group Inc.’s Asia chairman X.D. Yang stated in November that the U.S.-based PE’s funding quantity and tempo in India are getting “fairly shut” to that in China.
Final yr, Samara listed fast service restaurant operator Sapphire Meals India Ltd. — a neighborhood franchisee for Pizza Hut and KFC.
“We can have 10 lively portfolio corporations,” Narang stated. “Yearly we spend money on two to 3 corporations and exit the identical quantity.”
(With help from David Morris.)
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