IIFL Asset Management Ltd has achieved the final close of IIFL Special Opportunities Fund, which will predominantly invest before and during initial public offerings of private companies, a top executive told VCCircle.
The $250-million fund (Rs 1,625 crore) has a mandate to invest more than half its corpus in private companies in pre-IPO situations, CEO Prashasta Seth told VCCircle. The remaining corpus will be invested at the time of IPOs.
