JM Financial Private Equity has closed its second India-focused fund with commitments of more than ₹600 crore from Quilvest Group and Small Industries Development Bank of India (Sidbi) among others, two people aware of the matter said.
The PE arm of Nimesh Kampani-led JM Financial Group had achieved the first close of its second fund at ₹300 crore in April 2018. A first close allows a fund manager to start investing the capital that was raised, while allowing it to continue to raise more funds from investors.
