Edelweiss Wealth Management to raise Rs 5k cr for Crossover-III fund
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Edelweiss Wealth Management (EWM) on Tuesday announced that it has launched the third series of Edelweiss Crossover Opportunities Fund (Crossover-III) with a targeted corpus of Rs 5,000 crore ($700 million).
The fund will focus on late-stage PE and Pre-IPO investments, said a company statement.
The late-stage PE space has since gained momentum in the Indian scenario expanding to a new level of scale and opening larger opportunities. Crossover-III will see the largest fund raise in the series, having raised Rs 2,200 crore through the earlier series.
Nitin Jain, MD & CEO, Edelweiss Wealth Management said: "Private Equity is now a well-established asset class in India and is making significant contribution to the development of India's emerging corporate sector, while generating strong returns for its investors."
With a very strong track record in its previous tranches, the Edelweiss Crossover strategy adopts a partnership approach with its portfolio companies, where throughout the investment period, the fund team engages deeply with the company's management to create a positive impact on their performance and thereby maximising returns for our investors, Jain said.
