The Category II AIF targets pre-IPO and secondary market opportunities in India.
The alternative asset manager, which has begun the process of listing in India, is reportedly targeting $131 million for the strategy.
The firm is eyeing up to $150 million in final commitments to pursue late-stage secondary deals across India and Southeast Asia.
Avendus Future Leaders Fund III, which is already 30% deployed, has invested ~$15 million in Parag Parikh Financial Advisory Services via secondary.
The India-focused vehicle has a target size of $75 million and will allocate capital across primaries, secondaries, and co-investments.
This will be the first of several planned vehicles aimed at advancing secondary market activity, primarily in the Japanese market.
The India-based alternative asset manager is targeting $52 million in capital commitments to back late-stage startups.
The Seoul-based financial services firm provides brokerage, trading, investment banking, asset management, and advisory services.
The vehicle, targeting around $30 million in size, has made two investments to date, backing Blue Tokai Coffee Roasters and Atomberg Technologies.
Shinhan Innovation BDC No. 1 will invest at least 60% of its assets in "innovative companies" and LP-led secondary transactions.
