Poonawalla Vision Fund I raises Rs 1,000 crore, aided by Ambit GPC

Poonawalla Vision Fund raises Rs 1,000 crore

Ambit Global Private Client (GPC) on December 30 announced a Rs 1,000 crore close for the Poonawalla Vision Fund I after being roped in by the family engaged in vaccine manufacturing.

AGPC said it is the investment manager of the fund, and added that the fund, which was opened up for external participation in the October-December period, was oversubscribed within three weeks of the launch.

The Ambit arm said it was engaged by the Poonawalla family in 2023, and has deployed an initial capital of Rs 500 crore into eight companies, as per an official statement.

The initial capital has delivered an internal rate of return of 40 percent, which helped bag subscriptions from the external investors which include global and domestic institutions, family offices and ultra high networth individuals, it said.

The fund invests in mid to late-stage, institutionally backed, profitable companies across banking, financial services and insurance, consumer and business services sectors, while retaining flexibility across IPO, Pre-IPO, QIP and select listed opportunities.

"The oversubscription of this fund reinforces our belief that India's private markets offer compelling opportunities for disciplined, research-led investing," AGPC's chief executive Amrita Farmahan said.

AGPC has deployed Rs 6,765 crore across private market deals over the past five years with investments that are currently tracking to a value of Rs 22,000 crore, the statement said, adding that this has delivered an internal rate of return of 58 per cent and a 3.23x multiple on invested capital.