Global private markets investment firm Siguler Guff on Wednesday announced the final close of its Global Emerging Markets Growth Opportunities Fund II (GEMGO II), alongside co-investment vehicles and separately managed accounts, with combined capital commitments of $500 million.
The fund has attracted capital from both new and existing investors globally, including pension funds, family offices, financial institutions, foundations, and ultra-high-net-worth individuals. It will support Siguler Guff’s investments in India, with a focus on the country’s long-term growth opportunities, per a company statement.
The $500-million corpus is more than twice the $238 million that Siguler Guff deployed in India through its previous global emerging markets fund.
GEMGO II will target high-growth businesses, particularly founder- and family-owned companies, with an average investment size of around $50 million, the firm said in a statement.
The fund will focus on sectors positioned to benefit from India’s rising domestic consumption as well as businesses catering to global demand, including consumer, healthcare, financial services, and technology, it added.
The firm has already started deploying capital from GEMGO II, with recent investments in food services company Trimex Foods, IPL franchise Rajasthan Royals, AI-focused consulting firm Valliance.ai and domestic pharmaceutical company La Renon.
“India is a highly compelling long-term global investment opportunity, supported by powerful demographic trends, rising consumption, and a dynamic business environment. We believe the mid-market, where we have long specialised, offers an opportunity to partner with exceptional businesses,” said Drew Guff, Chief Investment Officer of Siguler Guff and Co-Portfolio Manager of GEMGO II.
Siguler Guff has invested around $1 billion in India across its emerging markets funds to date. Its portfolio spans 23 companies, including Indian Energy Exchange, GlobalLogic, City Union Bank, Luker Electric Technologies, Baazar Kolkata, and Sterling Hospitals.
