Tata Capital, the private equity investment unit of India conglomerate Tata, has reached a $600m final close on its latest Tata Opportunities Fund LP. The fundraising marks one of the largest India-focused venture capital funds in recent years.
Tata Capital is following other private equity investors and opening its fund to more LP co-investment opportunities. In doing so, the fund will leverage its acquisition capabilities with a view to acquire larger companies should the investment be the right strategic fit for Tata’s private equity portfolio of companies.
Tata Capital has set up four venture capital funds in India and also acts as an Investment Adviser to the AMCs of two private equity funds set up in Singapore. All these funds have cumulative assets under management of $1bn. In particular, the Tata Opportunities Fund has been operational since March 2011 with the mandate of principally investing into and/or along-side private Tata companies. The fund is sector agnostic and seeks to provide growth and buyout capital in deals ranging from $50m to $200m. However, the latest fund may see investment sizes increase now that LPs have the opportunity to co-invest.