Motilal Oswal Group, Friday, announced the closure of fund raising process for their recently floated India Business Excellence Fund (IBEF). The total proceeds realized were USD 125 million, 25% higher than the initial target of USD 100 million.
IBEF`s caters to the fund requirements of small and medium enterprises ranging from USD 3-10 million. The fund focuses on PIPE deals (private investment in public equity), pre-IPO transactions and opportunities where the liquidity event is 3-5 years ahead on the horizon.
Since inception in January 2007, the fund has invested in 4 different businesses such as plastics (Time Technoplast), power equipment (IMP Powers), reverse logistics and warranty management (RT Outsourcing Services), and ITES (Effort BPO).
Motilal Oswal, CMD, MOFSL, said “India is ushering into an extremely competent and vibrant entrepreneurial phase backed by strong economic growth. Private equity funding will continue to remain as one of the most sought after means to raise finances. In light of the foregoing, private equity funding will be a key business domain for us. In addition to bolstering our commitment towards growth capital, we would also explore to launch sector specific funds viz real estate and infrastructure.“
Currently, the fund is actively evaluating opportunities in financial services, capital equipment, logistics, manufacturing, metals and mining.
Motilal Oswal Venture Capital Advisors (MOVCAPL) is a subsidiary of Motilal Oswal Financial Services (MOFSL), a global, diversified financial services group with businesses in securities, commodities, investment banking and private equity.
Source: My Iris