Relauched WestBridge raises $200m - report
Three months after Sequoia Capital India’s founding partners departed to relaunch WestBridge Capital Partners, their new fund has reportedly raised approximately $200 million for domestic investments, en route to a $500 million target.
According to India's Business Standard, capital has been committed by "global bluechip limited partners" looking to enhance their India footprint. The report added that WestBridge has targeted a $500 million raise by the end of the year.
In February, news broke that K.P. Balaraj, Sumir Chadha, S.K. Jain and Sandeep Singhal would launch the WestBridge Public Fund and pursue domestic PIPE investments. The four previously worked at WestBridge Capital Partners, a fund launched in 2000 by Balaraj and Chadha. It merged into Sequoia five years ago.
At the time, Chadha told AVCJ, "Our investments will be mostly of a secondary nature but we are flexible," and described the fund as "a hybrid between mutual fund, hedge fund and private equity fund."
More on South Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.