Kotak Investment Advisors' pre-IPO fund mobilises Rs 2,000 cr

Kotak Investment Advisors on Tuesday SAID it has successfully closed its maiden Kotak pre-IPO Opportunities Fund, raising Rs 2,000 crore.

The fund will invest in a range of India-focused late-stage new-age businesses with a strong moat of technology, according to a statement.

The Kotak Pre-IPO Opportunities Fund has already made investments worth Rs 653 crore in five deals and has another Rs 405 crore worth deals in various stages of evaluation and execution.

Some of the investments made so far by the fund include API Holdings, the parent company of PharmEasy, Pine Labs, Mobile Premier League, PB Fintech (Policy Bazaar), and FSN Ecommerce (Nykaa).

''The swift pace of digital adoption by individuals, SMEs (small and medium enterprises) or enterprises has opened up the opportunity for the tech ecosystem to respond with unique and scalable business models with significant long-term growth potential,'' Srini Sriniwasan, managing director of Kotak Investment Advisors, said.

The fund enables the company's investors to participate in this growth story as these companies become part of public markets over time, he added.

Srikanth Subramanian, CEO (private wealth- investment advisory) of Kotak Investment Advisors, said there has been an abundant supply of technology-led companies looking to list in the near term and have carefully curated a good fund portfolio.

The investors in the fund include several family offices such as Catamaran, the family office of NR Narayana Murthy, and Skywalker, the family office of Rubamin group.

The fund will target high-quality companies across sectors, especially with a strong technology focus, robust unit economics, scalable business models, and exit visibility.

Kotak Pre-IPO Opportunities Fund is set up as an alternative investment fund under Sebi rules, managed by Kotak Investment Advisors.

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