SeaLink Capital Partners, the private equity firm founded by former KKR executive Heramb R Hajarnavis, has announced the final close of its debut fund at $315 million (Rs 2,040 crore).
The fund, which will focus on mid-sized companies, has exceeded its initial target of $250 million, it said in a statement.
Hajarnavis had floated the firm in late 2014.
The firm made its debut investment in July 2016 when it backed healthcare firm NephroCare Health Services Pvt Ltd.
Hajarnavis said in the statement mid-sized businesses constitute the growth engines of the Indian economy. “These businesses are in need of ‘smart money’ and investors who will serve as advisors and thought partners. Our focus is on combining our active ownership with a strong partnership-based approach to maximise their growth and performance,†he said.
SeaLink will invest in healthcare, financial services, information technology, business services, consumer products and niche manufacturing sectors.
The firm is evaluating a pipeline of investments, said Hajarnavis, who has previously worked with Goldman Sachs as well.
Karthik Narayanswamy, co-founder at SeaLink, was a principal at KKR Capstone earlier, according to the firm’s website.
SeaLink is among a host of private equity firms raising funds at a time when there is a capital crunch in the mid-market segment.
Mid-market PE firm Lighthouse Funds recently announced an interim close for its new fund. Amicus Capital made an interim close of its maiden fund in late 2016.