Multiples Alternate Asset wraps up first close on Fund 3 at $800 million

Company to shift focus to digital economy and financial inclusion

Multiples Alternate Asset Management, the only home-grown, woman-led private equity fund, announced the first close of its third and latest fund at $800 million. The investment company started by former banker Renuka Ramnath and Sudhir Variyar had launched an $400 million investment fund in 2009, which was followed by a $550 million fund that was raised in 2015. The National Investment and Infrastructure Fund (NIIF), India’s first sovereign wealth fund, is a key investor in Multiples’ Fund 3.

Ramnath says the key difference between Multiples’ older funds and the latest one is that the company has shifted gears from its