TVS Capital Funds marks second closing of third fund

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Published: July 10, 2019 1:01:33 AM

The target corpus for the fund was around Rs 1,000 crore and has a structure that allows for a Rs 500-crore green-shoe option of which Rs 100 crore has already been subscribed to and Rs 150 crore remains in the pipeline.

With the fund-raise, TVS Capital now manages cumulative assets of Rs 1,664 crore. (Website Image)With the fund-raise, TVS Capital now manages cumulative assets of Rs 1,664 crore. (Website Image)

Chennai-based private equity firm TVS Capital Funds on Tuesday announced the second closing of its third venture capital fund – TVS Shriram Growth Fund 3 – with a commitment of Rs 1,100 crore.

The target corpus for the fund was around Rs 1,000 crore and has a structure that allows for a Rs 500-crore green-shoe option of which Rs 100 crore has already been subscribed to and Rs 150 crore remains in the pipeline. Gopal Srinivasan, chairman of TVS Capital, said that the fund will be open till March 2020 and the company expects the size of the fund to touch around Rs 1,500 crore by that time. With the fund-raise, TVS Capital now manages cumulative assets of Rs 1,664 crore.

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