Motilal Oswal's IBEF rakes in $125 mn

The Motilal Oswal Group has announced closure of the fund raising process for its recently floated India Business Excellence Fund (IBEF).

The fund realised proceeds worth $125 million, 25 per cent higher than the initial target of $100 million. IBEF caters to the requirements of small and medium enterprises, ranging from $3-10 million.

It focuses on PIPE (private investment in public equity) deals, pre-IPO transactions and opportunities 3-5 years down the line. The fund has invested in four different businesses, including plastics, power equipment, reverse logistics and warranty management and ITES.

Motilal Oswal, CMD, said "Private equity funding will continue to be one of the most sought-after means of raising money. It will be a key business domain for us. In addition to bolstering our commitment towards growth capital, we would also explore the possibility of launching sector specific funds in real estate and infrastructure."

The fund is actively evaluating opportunities in financial services, capital equipment, logistics, manufacturing, metals and mining.

Motilal Oswal Venture Capital Advisors Pvt. Ltd. (MOVCAPL) is a subsidiary of Motilal Oswal Financial Services Ltd. (MOFSL), a global, diversified financial services group with businesses in securities, commodities, investment banking and private equity.