New Delhi, Sept. 24 -- The Singapore-headquartered, India-focused investment management firm Duro Capital has secured the first close of its maiden category-III alternative investment fund, the Duro Opportunities fund, with Rs 200 crore (around $22.53 million).
Duro Capital now intends to raise upwards of Rs 1,000 crore (around $113 million) from select Indian family offices, the firm said in a statement today.
The investment management firm, which previously invested in India only through its global funds, has now set up an Indian onshore vehicle.
The fund will invest in 20-25 publicly-traded companies across sectors and market capitalisation, the statement said.
"Both our offshore long-short and long-only public equity strategies have significantly outperformed Indian benchmarks. Most importantly, we have a significant part of our own capital invested alongside investors and a fee structure that rewards us only when we generate attractive returns for our investors, ensuring complete alignment," Nishchay Goel, founder and chief investment officer of Duro Capital, was quoted as saying.
The investment manager's strategy has been to buy equity or equity-related securities of fairly priced businesses with a defensible right-to-win in their industries and that are undergoing structural changes, which would help these companies compound earnings at 25% over the fund's holding period, according to Duro Capital's website.
Its current and past portfolio includes names such as Airtel, Max Healthcare, Indigo, Ujjivan, Manappuram Finance, Titan and Info Edge. In January 2024, it was part of a consortium that invested Rs 1,328 crore in non-banking lender SK Finance.
Published by HT Digital Content Services with permission from VC Circle.