Waterfield Advisors Announces Rs 500 Cr Fund Of Funds
On Saturday, Waterfield Advisors announces the first close at Rs. 200 Crs of its maiden Rs 500 Cr Fund of Funds (FoF), raising 40% of the target corpus within 3 months of receiving SEBI approval.
The Multi-Family Office and wealth advisory firm say that the fund has an additional Rs 250 Cr green-shoe option, which they expect to exercise to achieve a final close of the Fund by the end of September this year.
Seeing the FoF as an opportunity to build a well-diversified portfolio of top quartile domestic venture capital and private equity funds, the well-established single-family offices and ultra-high net worth (UHNW) individuals have given their commitments in the first close.
The FoF is a pioneering effort to create an institutional capability that transcends what individual investors on their own can achieve. Leveraging the expertise and access of Waterfield, the FoF will enable investors to secure preferential access, better economics and rights which are generally reserved for institutional investors.
Soumya Rajan, Founder & CEO of Waterfield Advisors commented,
“We are delighted to announce the first close of our Fund of Funds, which reaffirms the need for more institutional domestic capital to enter the Private Equity and Venture Capital (PE/VC) space in India and support home-grown investment managers. We are particularly encouraged by the strong support we have received from Family offices, UHNI and HNI’s who recognise the benefits of our strong analytics capabilities and relationships in the PE/VC space, which help them access top-quartile managers, with the additional benefit of institutional rights.”