India-focused investor Nalanda Capital seeking $800m for latest fund

India gate, New Delhi, India. Photo: Pixabay

India-focused investor Nalanda Capital is seeking to raise as much as $800 million for a new fund, per a regulatory filing.

Of the total corpus, it has already garnered $728 million, shows a filing with the US Securities and Exchange Commission.

Nalanda Capital, headquartered in Singapore, typically invests in small and mid-cap companies listed on the bourses, thereby becoming a large and long-term shareholder in them. Its portfolio companies include civil engineering and construction company Ahluwalia Contracts, acid battery giant Amara Raja Batteries Limited, Berger Paints and consumer-electricals major Havells, among others.

In the internet space, Nalanda Capital has invested in companies such as Info Edge, Just Dial and Matrimony.

With the latest fund, Nalanda’s total capital raised so far will stand at over $2.3 billion.

The fundraising comes at a time when the bourses in India have been volatile amidst the COVID-19 pandemic with investment sentiments remaining rather tepid.

Nalanda Capital was established by former Warburg Pincus India co-head Pulak Prasad. Its first fund was set up with a corpus of $400 million in May 2007, a year before the economic crisis engulfed the world. Subsequently, it raised $475 million for another fund in 2011 and $620 million in 2016 from LPs such as endowments, foundations and family offices across the US and Europe.

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.