360 ONE Asset is launching a secondary fund of ₹4,000


360 ONE Asset has announced its foray into the secondary private equity market with the launch of a ₹4,000 crore fund. Remarkably, more than half of this amount has already been collected. The fund has successfully closed five investments, bringing exposure to 20-25 percent of the portfolio, according to Sameer Nath, CIO and Head, Venture Capital and Private Equity at 360 ONE Asset.

Globally, the secondary products market is valued at more than US$ 130 billion, while it remains at an early stage in India. Secondary funds buy existing assets or stakes from primary PE investors. Nath highlighted that the average ticket size of their investments would be between ₹ 150-250 crore. «The strategy would be to look at attractive entry points with the aim of making decent returns,» Nath said. He also mentioned a robust pipeline that includes pre-IPO secondaries, single and multi-asset secondaries and special situations.

With $8.7 billion in assets under management, 360 ONE Asset is part of the 360 ​​ONE Group, which oversees more than $56 billion in assets under management. The firm boasts a portfolio of more than 100 companies, including 30 unicorns. It launched its first multi-asset fund last year.

The firm aims to be involved in all stages of funding, from early and mid-stage to pre-IPO and late-stage and now a secondary fund. Most of its investments are in the pre-IPO and late-stage private equity sectors.

In addition to the secondary fund, 360 ONE Asset is also working on a healthcare fund. The second investment for this fund is close to closing, while the third term sheet has been signed. An early-stage venture capital fund is expected to launch in a few months, with a fourth pre-IPO fund also in the pipeline.

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Some of the company’s notable pre-IPO investments include NSE, NSDL as well as stakes in ANAROCK, Pharmeasy and IPO-bound Swiggy and FirstCry.

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