India’s Edelweiss launches third crossover opportunities fund, targets $700m corpus

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India’s Edelweiss Wealth Management on Tuesday announced that it has launched the third series of Edelweiss Crossover Opportunities Fund (Crossover III) with a targeted corpus of about $700 million (Rs5,000 crore).

Crossover III will see the largest fundraise after earlier series funds raised Rs2,200 crore, Edelweiss said in a statement.

The latest fund, which is a Category II alternative investment fund (AIF), will focus on late-stage private equity and pre-IPO investments. The late-stage PE space has gained momentum in India expanding to a new level of scale and opening up larger opportunities.

“The phase of 2-3 years pre IPO and 2-3 years post IPO represents one of the best phases of growth and makes for a very attractive investment strategy. Crossover III will focus on this phase of high growth of future-ready businesses and partner with them as they transform into lasting publicly-listed franchises,” said Pranav Parikh, managing partner & head, private equity, Edelweiss Wealth Management.

Crossover III will continue to build on the platform’s experience, expertise, and capabilities to provide flexible and bespoke capital solutions to the market. The fund will partner with quality entrepreneurs and management teams as they transition from being privately-held businesses to high-performance and enduring public franchises, the statement added.

“Private Equity is now a well-established asset class in India and is making significant contributions to the development of India’s emerging corporate sector, while generating strong returns for its investors. With a very strong track record in its previous tranches, the Edelweiss Crossover strategy adopts a partnership approach with its portfolio companies, where throughout the investment period, the fund team engages deeply with the company’s management to create a positive impact on their performance and thereby maximizing returns for our investors,” Nitin Jain, MD & CEO, Edelweiss Wealth Management, said.

Edelweiss Wealth Management is one of India’s largest wealth management firms with assets under advisory (AUA) of over $19 billion.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.