16 March, 2016, India: Gaja Capital has closed its third round of funding by raising a capital of US $240 million. The company has raised the amount at a time when uncertainty continues to dog fund raising efforts by domestic private equity firms.
The company concentrates on consumption segment with heavy emphasis on education, financial services, consumer and healthcare sectors. Currently, Gaja Capital’s asset value is around US $500 million across its three investment vehicles.
“The environment is no easier or tougher than before. For growth capital investors, it has been hard to raise funds, which is why so few of them have managed to do so successfully,” said Gopal Jain, Managing Partner, Gaja Capital.
With the raised amount, the company is looking forward to make 8-10 investments with an average ticket size ranging between US $5-40 million. As per the company’s plan, it will invest in ventures that are 7-10 years old and have been set up by first generation entrepreneurs.
Jain elaborated, “There is an extraordinary level of activity in the Indian entrepreneurial space, and which has shot up by almost 10 times over the last 24 months. We have a full and deep pipeline of investments at this point.”