Piyush Gupta Launches Kenro Capital to Tap Growing Secondary Transactions Market Gupta and seasoned investor Norbert Fernandes join forces to launch Kenro Capital, targeting India and Southeast Asia's expanding secondary transaction market with strategic investments in growth-stage companies.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Piyush Gupta, former Managing Director at Peak XV Partners, has launched Kenro Capital, a new investment firm specialising in secondary transactions.
Secondary transactions involve the exchange of shares between investors without new capital infusion or issuing additional shares.
This move comes seven months after Gupta's departure from Peak XV Partners, previously known as Sequoia Capital, where he served as Managing Director of Strategic Development since 2017. With over a decade of prior experience at Morgan Stanley and Deutsche Bank, Gupta brings a wealth of financial expertise to this venture.
Gupta has teamed up with Norbert Fernandes, a seasoned private equity professional with 17 years of experience, including roles at Temasek, IvyCap Ventures, and TR Capital. Together, they aim to capitalise on the growing secondary transaction market across India and Southeast Asia.
As per media reports, Kenro Capital, domiciled in Singapore, has raised an undisclosed amount and plans to deploy USD 20–30 million in growth secondary deals. The firm's strategy focuses on acquiring minority stakes in growth-stage companies with established revenues, profitability or near-profitability, and strong IPO potential within 2-3 years.
India's secondary transaction landscape has seen significant growth, with companies like Lenskart, Meesho, Purplle, and Urban Company leading the way. In September, Oister Global and Tribe Capital also announced a new fund targeting secondary deals, highlighting this sector's increasing prominence.
Commenting on the market's evolution, Fernandes emphasised the growing focus on liquidity among venture fund sponsors and the maturity of Indian startups. "Even venture-backed entrepreneurs now better understand what capital markets demand for a successful IPO," he stated.
Kenro Capital is set to play a pivotal role in facilitating liquidity solutions while supporting companies on the cusp of public market entry.
