New Delhi, Aug. 6 -- Former KKR executives, along with other investors, are backing buyout fund Arjav Capital and Skyroot Aerospace is seeking fresh round at $2 billion (around Rs 19,029 crore) valuation, according to separate media reports.

Arjav Capital

Former KKR executives Sanjay Nayar and Johannes Huth, along with several family offices, are backing Arjav Capital, a Rs 2,000-2,500 crore mid-market buyout fund focussed on Indian manufacturing and industrial companies undergoing a technology-led transformation, according to The Economic Times, which cited sources.

The fund has secured commitments of Rs 650-700 crore (around $68-74 million) from family offices, including those of former Bharti Enterprises vice chairman Akhil Gupta, Caravel Group's Angad Banga, UST Global's Paras Chandaria, Alliance Tire Group founder Yogesh Mahansaria, Dubai-based Apparel Group chairman Nilesh Ved and Sweden-based DIG Investment, the report said.

The fund is now seeking commitments from institutional investors and expects to achieve a first close at around Rs 1,000 crore.

Skyroot Aerospace

Hyderabad-based space technology startup Skyroot Aerospace has asked interested investors to submit bids for a funding round at a valuation of $2 billion, as per a Moneycontrol report.

This is about 80% higher than the $1.1 billion valuation it commanded during its previous fundraise in May.

The company is seeking around $200 million and has asked investors to submit bids before selecting its preferred partners, in a departure from the conventional fundraising process, the report said, citing people familiar with the company's plans.

Kotak is managing the fundraising process and the round is expected to close over the next two months, with Skyroot looking to bring more domestic investors onto its cap table, according to the report.

The fundraising comes after Skyroot's successful launch of Vikram-1 on July 18, India's first privately developed orbital launch vehicle, which has boosted investor interest in the company.

Published by HT Digital Content Services with permission from VC Circle.