India: IIFL Asset Management raises $216m for second pre-IPO fund

Photo: Reuters

IIFL Asset Management Co. Ltd has raised $216 million (Rs 1,400 crore) for its second pre-IPO fund, IIFL Special Opportunities Fund 2, according to a statement.

The new fund comes a couple of months after the company closed its first pre-IPO fund, IIFL Special Opportunities Fund, that raised $250 million.

“The huge success of IIFL Special Opportunities Fund prompted us to launch Series 2. Overwhelming demand by investors coupled with increasing investment avenues given the healthy IPO pipeline has resulted in rising confidence in such a unique product offering. Our AIFs offer our clients various opportunities to invest in securities that are otherwise unavailable to most investors,” said Amit Shah, CEO of IIFL Asset Management Business.

Fund 2 is a close-ended scheme under Category II Alternative Investment Fund (AIF). The fund seeks to generate long-term capital appreciation through investment in equity and equity-related instruments of to-be listed companies, IIFL said in the statement.

Prashasta Seth, CIO, IIFL Asset Management Business, said, “The IPO segment has provided loads of opportunities in the past few months.”

According to a data provided by primary market tracker Prime Database, 26 companies raised Rs 26,493.8 crore through IPOs in 2016 and in the previous year, 21 companies raised Rs13,614 crore through IPOs.

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India: IIFL Asset Management raises $250m for IPO-focused fund

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.