Bengaluru-based private equity fund Creaegis today announced the final closure of its maiden fund at USD 425 million or Rs 3,529 crore to support homegrown startups.
"We are pleased to share the final close of our maiden fund of USD 425MM! We are privileged to have some of the leading institutional investors and family offices join us in this journey and are grateful for their trust and support!." the private equity fund wrote in a tweet.
According to a statement, Creaegis raised capital from institutional investors, including International Finance Corporation (IFC) and family offices from India, the US, Europe and Asia for this sector-agnostic fund, which it will use to infuse in growth-stage Indian startups.
The report also said that the private equity firm plans to invest in amounts ranging from $25 million to $40 million on average, and will ‘double down on its portfolio winners’.