Waterfield Advisors raises Rs 200 cr on first close of Rs 500-cr fund

Wealth advisory firm Waterfield Advisors announced the first close at Rs 200 crore of its maiden Rs 500 crore Fund of Funds (FoF), raising 40 per cent of the target corpus within 3 months of receiving regulatory approval. The fund has an additional Rs 250 crore green-shoe option, which Waterfield expects to exercise to achieve a final close of the Fund by end September this year. 

The first close saw commitments from single-family offices and ultra-high net worth (UHNW) individuals.

“We are delighted to announce the first close of our Fund of Funds, which reaffirms the need for more institutional domestic capital to enter the Private Equity and Venture Capital (PE/VC) space in India and support home-grown investment managers,” said Soumya Rajan, Founder & CEO of Waterfield Advisors.

FoF will leverage the expertise and access of Waterfield to enable investors to secure preferential access, better economics and rights which are generally reserved for institutional investors. 

Established in 2011, Waterfield advises on over $3.6 billion of assets on behalf of several prominent Indian business families whom it serves from its six offices in India.