Kedaara to hold $200m first close - report

The vehicle, which counts Clayton, Dubilier & Rice (CD&R) among its investors, is expected to secure commitments for its first close for 3-4 anchor investors within the next month, two sources told VCCircle.

"The fund has got a very good response in a market where other big funds are struggling to raise money. It has also seen marquee LPs investing," a source said of the fund, which is targeting $500 million for its final close later this financial year.

CD&R will reportedly take a minority stake in the India-focused fund, which Keijriwal established after he resigned from Singapore's sovereign wealth fund last August.

Kedaara is tipped to make minority investments in high-growth businesses, including those which are expanding overseas.

Two ex-General Atlantic executives, Sunish Sharma, managing director, and Nishant Sharma, principal, were also said to have left their firm to join Kejriwal in his new venture. A Reuters report noted that Temasek will not be an LP in the fund.

Kejriwal started at Temasek in 2004 and opened its Mumbai office. He was in charge of the firm's investments in the Middle East and Africa. During his time at the fund, Temasek's key investments included taking a stake in the National Stock Exchange of India, GMR Energy, ICICI Bank and Bharti Airtel.

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• Topics
• Venture
• Fundraising
• South Asia
• Temasek Holdings
• India
• Fundraising