Bharat Value Fund, which operates under the India Inflection Opportunity Trust, has made the first close of its third fund, Bharat Value Fund (BVF) Series 3, at Rs 1,250 crore.
India Inflection Opportunity said that the milestone was achieved in a “record” 45 days. The fund has a target corpus of Rs 2,500 crore, including a green shoe option of Rs 1,000 crore.
Over the past year, Bharat Value Fund has raised a total of Rs 3,000 crore across its second and third funds which are managed by asset management company The Wealth Company Pvt Ltd, formerly known as Pantomath Capital Management Pvt Ltd.
“The Wealth Company is committed to fostering India’s mid-market growth through strategic investments and active ownership. We remain dedicated to unlocking value for our stakeholders and driving the next phase of growth in India’s entrepreneurial ecosystem,” said Madhu Lunawat, managing director of The Wealth Company.
The fund has a sector-agnostic investment thesis. The Bharat Value Fund targets mid-market, high-growth enterprises with revenues between Rs 300 crore and Rs 1000 crore. These businesses, often rooted in Tier 2 and Tier 3 cities, are positioned for scale, profitability, and value creation, it said. Its exit strategies include IPOs within 30-36 months, along with alternative paths such as secondaries or mergers and acquisitions.
BVF Series 1 raised Rs 500 crore in 2023 for the mid-market segment. BVF Series 2 has received commitments of more than Rs 1800 crore earlier this year. With the first close of the third fund at Rs 1,250 crore, the company plans to achieve the full target corpus of Rs 2,500 crore by mid-2025.
So far, the funds have invested in companies such as old cookware manufacturer Aniket Metals, building material manufacturer Marudhar Rocks, and a personal hygiene-facing brand Millennium Babycares Pvt. Ltd, which operates the BumTum brand.
