TVS Capital completes first close for its third fund, raises ₹8.32 bn

Fund surpasses its first-close target of 7 bn, targets total size of around 10-12 billion

TVS Capital Funds Private Limited has completed the first close of the TVS Shriram Growth Fund 3, a private equity fund. The fund has raised Rs 8.32 billion of commitments entirely from domestic investors, against the targeted Rs 7 billion for its first close. The fund is targeting a total size of around Rs 10-12 billion.
The fund has received enthusiastic participation, especially from family office clients who have invested Rs 100 million or more. Average size of commitments from all clients were around Rs 70 million with the Sponsor group investing over Rs 2 billion.
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