TVS Capital Funds, the private equity fund manager backed by the TVS and Shriram groups, has raised nearly ₹2,000 crore for the final close of its third private equity fund, TVS Shriram Growth Fund 3, a senior executive told Mint.
“The fund has successfully closed its extended fundraise with an overall assets under management (AUM) of ₹1,550 crore in the blind pool. With a potential co-investment pool of approximately ₹450 crore, the total AUM for the fund would stand at ₹2,000 crore. This makes TVS Capital Funds the largest rupee-only capital fund, only through domestic sources, empowering next-gen entrepreneurs in India,” Gopal Srinivasan, managing director and chairman, TVS Capital Funds, said.
“It has always been our aim to raise domestic capital and during covid-19 family offices and HNIs were particularly looking at capital allocation avenues such as private equity, where you have the long-time horizons to invest across economic cycles,” Srinivasan said.
About 45% of the capital commitment has come from 34 leading family offices in the country with individual contributions of more than ₹10 crore, Srinivasan said.
Institutions that have committed capital to the fund include Sidbi, Nabard, and a few leading insurance companies. These have collectively contributed 22% of the fund’s corpus, while another 26% has been raised from ultra HNIs and the rest from sponsors TVS and Shriram groups.
