Multiples Secures $430 Million Continuation Fund Amid Strong Investor Interest

Multiples Alternate Asset Management secured $430 million for a continuation fund to stay invested in three portfolio companies while providing liquidity to investors. Led by global investors like HarbourVest and Hamilton Lane, the fund supports Vastu, Quantiphi, and APAC, highlighting strong private equity interest in these sectors.

Multiples Alternate Asset Management, a domestic private equity firm, has successfully raised a $430 million continuation fund. This strategic move allows Multiples to remain invested in three key portfolio companies while providing liquidity to some of its investors, an approach that stands out in the Indian private equity landscape.

The fundraising effort saw significant contributions from four major global investors: HarbourVest Partners, Hamilton Lane, LGT Capital Partners, and TPG NewQuest. These funds will be used to acquire interests in three fast-growing companies from Multiples Fund II and provide additional follow-on capital, according to an official statement.

Multiples will continue its investment in three companies: Vastu Housing Finance Corporation, Quantiphi, and APAC Financial Services. Sudhir Variyar, managing director and deputy CEO, expressed confidence in the entrepreneurs behind these businesses, emphasizing their significant growth and investor appeal.

(With inputs from agencies.)