ChrysCap raises $1.25bn for India play

Private equity company ChrysCapital today announced the establishment of its latest India-focussed fund with a corpus of $1.25 billion. The company, at present, manages over $2.25 billion, and claims to be the largest India-focussed private equity fund.

"We are looking at deploying larger amounts of growth capital as well as explore buy-out opportunities with deal sizes in the range of $30-300 million. At the same time, we want to lower risk," Ashish Dhawan, senior managing director, ChrysCapital said.

The fund focuses on growth capital investing in sectors like business services, consumer goods and services, financial services, infrastructure, manufacturing, healthcare and pharmaceuticals.

The new fund has attracted 75 global investors, and targets a holding period of 4-7 years. "Fund V has one-third participation each from the geographies of US, UK and Asia," Gulpreet Kohli, principal, ChrysCapital said.

The fund has so far invested in companies like Idea Cellular, MphasiS, Spectramind (now Wipro BPO), Suzlon, Yes Bank, Moserbaer and Axis Bank (previously UTI Bank).