Renuka Ramnath, former ICICI Venture head, has garnered $405 million for a private equity (PE) fund, Economic Times reports. Ramnath has raised the money for a fund floated by her own firm Multiples Alternate Asset Management.
The fund, which is supported by 15 institutional investors including pension funds from Canada, Europe and Asia and large Indian banks, will be sector independent. Multiple Alternate is seeking to create a portfolio of 12 to 15 companies over the coming three years and also plans to look at new types of deal structures as part of its investment strategy.
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