Update: Revived WestBridge reaches $500m fund target

WestBridge has seen one of the fastest fundraises in recent times, undoubtedly aided by its management team's star status in India's private equity space. The vehicle will will make long-term invest commitments in both public and later-stage private companies.

In February, Principal Sumir Chadha told AVCJ that, "Our investments will be mostly of a secondary nature but we are flexible." He further described the fund as "a hybrid between mutual fund, hedge fund and private equity fund."

Investors in the WestBridge Crossover Fund include leading university endowments and major foundations.

In February, Sequoia's founders Chadha, K.P. Balaraj, S.K. Jain and Sandeep Singhal announced they would relaunch WestBridge. Balaraj and Chadha started the firm in 2000, and subsequently brought in Jain and Singhal, before merging into Sequoia five years ago. The Business Standard reported that the investors leveraged Sequoia's assets under management to $1.8 billion, with $600 million remaining to be committed from their last raise.

In June, reports surfaced that WestBridge had raised approximately $200 million of its $500 million target. 

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• Topics
• South Asia
• Funds
• PIPEs
• Sequoia Capital
• WestBridge Capital Partners