Motilal Oswal Private Equity raises first tranche of Rs 3,500mn for IBEF-II
Motilal Oswal Private Equity Advisors Private Limited ('MOPE") announced the first closing of its second private equity fund, India Business Excellence Fund-II.
- (1888PressRelease) February 08, 2012 - Mumbai: Motilal Oswal Private Equity Advisors Private Limited ('MOPE") announced the first closing of its second private equity fund, India Business Excellence Fund-II ("IBEF-II")[1]. IBEF-II is focused on providing growth capital to mid-market companies in India to help accelerate their growth. The first close has been achieved at an equivalent of Rs 3,500mn raised through a combination of domestic and offshore investors. Overall, IBEF-II is targeting to raise equivalent of Rs 7,500mn.
IBEF-II was launched in July 2011 in light of the successful deployment of India Business Excellence Fund-I ("IBEF-I")[2], a Rs 5,500mn fund focused on providing growth capital to mid-market companies in India. IBEF-I was launched in 2006 and was fully deployed, by December 2010, in 13 mid-market companies across sectors. MOPE is currently evaluating multiple opportunities to deploy IBEF-II and at the same time is also working on effectuating successful exits from the portfolio companies of IBEF-I wherein couple of exits would be announced shortly. Remaining corpus of IBEF-II would be raised over the next six to nine months from a combination of high networth individuals, family offices and institutional investors both from offshore and domestic investors.
Speaking on the closing Raamdeo Agrawal, Chairman of MOPE and Joint Managing Director of Motilal Oswal Financial Services Limited ("MOFSL") said, "We will endeavour to invest IBEF-II in highly scalable mid-market companies across India. I truly believe that as India graduates from $2tn economy to $5tn economy, opportunities for mid-market companies will exhibit exponential growth. I am particularly excited about building a portfolio significantly comprising of companies driven by domestic consumption and financial services themes. IBEF-II is an excellent vehicle for investor to participate in the growth of the India economy".
Motilal Oswal, Chairman and Managing Director of MOFSL said, "We started MOPE in 2006 to help organize sources of capital for mid-market companies. I always think of IBEF-I and IBEF-II as funds for entrepreneurs by entrepreneurs".
About Motilal Oswal Private Equity Advisors Pvt. Ltd.
Motilal Oswal Private Equity Advisors Pvt. Ltd. ("MOPE") is a subsidiary of Motilal Oswal Financial Services Ltd. (MOFSL), a diversified financial services group with businesses in equity broking, equity research, asset management, private equity and investment banking. MOPE currently manages and/or advises IBEF-I and IBEF-II. IBEF-I, a Rs 5,500mn sector agnostic growth capital fund focused on mid-market companies in India. IBEF-I was fully deployed, by December 2010, in 13 mid-market companies operating primarily in domestic consumption driven sectors, financial services and infra services. IBEF-II, a Rs 7,500mn sector agnostic growth capital fund focused on mid-market companies in India was launched in July 2010 and it recently announced its first close at Rs 3,500mn. Investment strategy of IBEF-II would be similar to that of IBEF-I. Over the next couple of years MOPE would focus on investing corpus of IBEF-II and exiting portfolio companies of IBEF-I wherein couple of exits are being effectuated.
MOPE also manages India Realty Excellence Fund ("IREF"), a Rs 2,000mn real estate fund focused on investing in residential projects across India. MOPE is in the process of launching is next real estate fund shortly.
[1] India Business Excellence Fund-II refers to India Business Excellence Fund-II Domestic Fund ("IBEF-II- Domestic Fund"), a domestic fund managed and advised by MOPE, and India Business Excellence Fund-IIA ("IBEF-II Offshore Fund"), a offshore fund managed and advised by India Business Excellence Management Company ("IBEMC"). MOPE is an advisor to IBEMC on IBEF-II Offshore Fund
[2] India Business Excellence Fund-I refers to India Business Excellence Fund ("IBEF-I- Domestic Fund"), a domestic fund managed and advised by MOPE, and India Business Excellence Fund-I ("IBEF-I Offshore Fund"), a offshore fund managed and advised by India Business Excellence Management Company ("IBEMC"). MOPE is an advisor to IBEMC on IBEF-I Offshore Fund
Mr. Hari Krishnan
Motilal Oswal Financial Services
Ph - +91-22-39825500
Mob- +91-9820520392
Mr. Vishal K Gupta
Motilal Oswal Private Equity Advisors Pvt. Ltd.
Ph - +91-22-39825500
Mr. Anirudh Rajan / Alpesh Nakrani
Paradigm Shift Public Relations
Mob- +91-9892343828/ +91-9869121167
Tel- +91-22 22813797 / 98
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