India: Boutique i-bank o3 Capital raising $150m fund focused on hospitality

Mid-market boutique investment banking firm o3 Capital is raising a $150 million hospitality-focused fund, as the Mumbai-based company looks to diversify into the asset management business, a top executive of the firm said.

“The idea is to raise a $120-150 million fund that will be investing in hospitality businesses, largely acting as last-mile funding. We will be specifically looking at near-complete assets needing last-mile funding to become operational,” said Deepesh Garg, managing director at o3 Capital Global Advisory Pvt. Ltd, adding that the firm sees a huge opportunity in the space.

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