ChrysCap secures record $2.1 bn for buyout fund: report

Indian private equity firm ChrysCapital Management Co. has secured $2.1 billion investment for its latest fund, Bloomberg reported, citing people familiar with the matter.

The 26-year-old firm’s latest fundraising is the biggest ever in India, and two-thirds bigger than its last funding round of $1.25 billion in 2022.

Before ChrysCap mega funding, Kedaara Capital had held the record with a $1.7 billion round last year.

ChrysCap has not disclose details about the funding, but an announcement on the fund’s final close is likely in the next few weeks, the Bloomberg report said.

The final funding amount may also change depending on any last minute tweaks in commitments, it added.

A spokesperson for ChrysCapital did not respond to an email.

Globally, private equity funds raised $1.1 trillion last year, a 24% decline from the previous year, Bain and Co reported.

According to the information published on its website, ChrysCapital was incorporated in 1999 and is India’s largest private equity firm.

ChrysCap has invested across enterprise technology, financial services, healthcare, consumer, new economy, and manufacturing.

Since inception,  it has raised $5 billion across nine rounds, investing almost $4.5 billion across 100 investments and gaining $7 billion across 80 exits.

ChrysCapital counts some of the world’s largest sovereign wealth funds, public and private pension funds, insurance companies, endowments, foundations, and asset management companies among its investors.

The firm’s investments include National Stock Exchange of India Ltd, Lenskart Solutions Pvt Ltd, and multi-speciality hospital KIMS Hospitals.