Holani Consultants Pvt. Ltd has marked the first close of its maiden venture capital fund at Rs 184 crore (around $22 million), within a month of floating it.
The Jaipur-based Holani is aiming to raise a target corpus of Rs 400 crore (around $48 million) for the Holani Venture Capital Fund, a category-I alternative investment fund (AIF), including a green-shoe option of Rs 100 crore.
Holani Consultants forayed into fund management and investment after receiving the Sebi approval for registration of its AIF on 3 April, 2024. The fund is managed and sponsored by Holani Capital Advisors LLP.
The green signal from the markets regulator enabled Holani Group to receive the investor money for Indian equity markets, the firm said in a release.
“With our sector-agnostic strategy, research and risk management, we aim to create long-term value for our clients while fostering innovation, entrepreneurship and economic growth in India through our fund,” said Ashok Holani, director of Holani Consultants.
Holani Consultants provides a range of financial market services, including IPO management, business valuation consulting, financial management and advisory, bank financing, stock broking and various other advisory or consultancy services related to the securities market.
The company obtained its SEBI merchant banking licence as a "Category-I Merchant Bankers" in 2018 and its SEBI stock broking licence as an "Alpha Category Stock Brokers" in 2021.
The firm claims to have facilitated valuations for over 100 private placement transactions and managed several SME IPOs on platforms like BSE SME/NSE Emerge. It has also overseen main board IPOs and rights issues.
