“The fund had initially targeted a corpus of Rs 1,000 crore, which was oversubscribed within three months of launch. The fund exercised its greenshoe option for Rs 386 crore,” the investment advisor said in a press note.
The Kotak Pre-IPO Opportunities Fund, a close-ended fund, will target high-quality companies across sectors with a strong moat of technology, robust unit economics, scalable business models and exit visibility, Kotak Investment Advisor said.
The modus operandi of the fund will be to target a range of late-stage new-age businesses in India with a strong technology moat.
“The Pre-IPO Opportunities Fund has been raised at an opportune time. The Indian technology ecosystem is at an inflection point and with widespread digital adoption, companies are scaling up faster and accelerating towards profitability,” said Srini Sriniwasan, managing director at Kotak Investment Advisors.
The fund has made an investment commitment of $44 million in API Holdings, the parent company of online pharmacy PharmEasy.
