Waterfield Advisors Raises INR 200 Cr The first close saw commitments from single-family offices and ultra-high net worth individuals, who see the FoF as an opportunity to build a well-diversified portfolio of top quartile domestic venture capital and private equity funds

Multi-family office and wealth advisory firm Waterfield Advisors on Thursday announced the first close at INR 200 crore of its maiden INR 500 crore Fund of Funds (FoF), raising 40 per cent of the target corpus within 3 months of receiving SEBI approval.

The fund has an additional INR 250 crore green-shoe option, which Waterfield expects to exercise to achieve a final close of the Fund by the end of September this year.

The first close saw commitments from well-established single-family offices and ultra-high net worth (UHNW) individuals, who see the FoF as an opportunity to build a well-diversified portfolio of top quartile domestic venture capital and private equity funds.

The FoF is a pioneering effort to create an institutional capability that transcends what individual investors on their own can achieve. It will leverage the expertise and access of Waterfield to enable investors to secure preferential access, better economics, and rights that are generally reserved for institutional investors.

"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. We are particularly encouraged by the strong support we have received from Family offices, UHNI, and HNI's who recognize the benefits of our strong analytics capabilities and relationships in the PE/VC space, which help them access top-quartile managers, with the additional benefit of institutional rights," remarked Soumya Rajan, founder, and chief executive officer, Waterfield Advisors.