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Edelweiss Wealth Management to raise INR 5000 crores for Edelweiss Crossover Opportunities Fund - Series III

Posted On: 2021-03-09 08:59:32 (Time Zone: Arizona, USA)

Edelweiss Wealth Management (EWM), today announced that it has launched the third series of Edelweiss Crossover Opportunities Fund (Crossover III) with a targeted corpus of INR 5000 Cr (~USD 700 mn). A Category II AIF, it will focus on late-stage PE and Pre-IPO investments - a space that the Crossover series have pioneered in India.

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 ~ INR 2200 Cr through the earlier series.

Crossover III will continue to build on the platform's experience, expertise, and capabilities to provide flexible and bespoke capital solutions to the market with this fund. The Fund will partner with high-quality entrepreneurs and management teams as they transition from being privately held businesses to high-performance and enduring public franchises.

With the late-stage PE / Pre-IPO strategy, the fund opens up access to private investments which usually are unavailable to most investors and enables them to capitalize on structural growth trends early on with reasonable exit time-horizons. Apart from this, the fund, via its investment in IPOs of high-quality enterprises, will also facilitate meaningful allocation to investors who are keen to participate in new and emerging leaders of India's future. This strategy has stood the test of time through recent market crises and has done quite well in delivering consistent returns and lower than market drawdowns throughout this period of extreme volatility.

Mr. 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 maximizing returns for our investors."

Mr. Pranav Parikh, Managing Partner & Head, Private Equity, Edelweiss Wealth Management said, "We are witnessing the emergence of new sectors and novel business models, presenting new market opportunities. It is very exciting to see the confidence among Indian entrepreneurs today as they aspire to build the next generation of world-class companies. The phase of 2-3 years pre IPO and 2-3 years post IPO represents one of the best phases of growth and makes for a very attractive investment strategy. Crossover III will focus on this phase of high growth of future-ready businesses and partner with them as they transform into lasting publicly-listed franchises."

Shares of Edelweiss Financial Services Ltd. was last trading in BSE at Rs.78.8 as compared to the previous close of Rs. 75.5. The total number of shares traded during the day was 803957 in over 6213 trades.

The stock hit an intraday high of Rs. 80.5 and intraday low of 75.1. The net turnover during the day was Rs. 63297552.

Source: Equity Bulls

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