New Delhi, Dec. 30 -- Poonawalla Vision Fund I, a growth-stage-focused venture capital fund set up by the Poonawalla family that runs vaccine manufacturer Serum Institute of India, has marked its final close after raising Rs 1,000 crore ($111.4 million), its investment manager said on Tuesday.
The investment manager, Ambit Global Private Client (Ambit GPC), the wealth management arm of financial services group Ambit, launched the fund in January 2023 and opened it up for external participation in the fourth quarter of 2025. The fund received strong interest from global and domestic institutions, family offices and ultra-high-net-worth investors, and was oversubscribed within three weeks, Ambit GPC said in a statement.
"The speed and quality of this fundraise are a strong endorsement of our investment philosophy, our proprietary sourcing capabilities and our disciplined execution," said Amrita Farmahan, CEO, Ambit GPC. "This fund reinforces our belief that India's private markets offer compelling opportunities for disciplined, research-led investing. We look forward to deploying this capital with focus and partnering with founders to help build enduring, category-defining businesses."
The fund was floated in 2023. VCCircle had reported in late 2022 that Adar Poonawalla, chief executive of Serum Institute of India, sought regulatory approval to establish the Poonawalla Vision Fund to invest in growth-stage companies from its corpus of Rs 1,000 crore contributed by his family.
The vehicle is focused on investing in mid- to late-stage businesses that are institutionally backed and are profitable. It can also participate in initial public offerings, pre-IPO deals, qualified institutional placements, and selected listed opportunities. It invests across sectors such as banking, financial services, and insurance, consumer and business services.
The fund's initial Rs 500 crore capital was deployed into eight category-leading businesses, Ambit GPC said, adding that it has delivered about 40% internal rate of return (IRR) since inception.
Mumbai-based Ambit GPC provides wealthy individuals, families, and institutions a range of services including discretionary and advisory under portfolio management, global investing, alternates and private market deals, real assets, family office services, capital markets and trading and institutional-quality research.
It has deployed Rs 6,765 crore across high-conviction private market deals over the past five years with investments that are currently tracking to a value of Rs 22,000 crore with 58% IRR and 3.23x multiple on invested capital.
Published by HT Digital Content Services with permission from VC Circle.