New Delhi, Oct. 27 -- Private equity firm Advent International, which has deployed more than $800 million in India so far this year, said Tuesday it has raised $30 billion in commitments for two global funds.
The PE firm collected $27 billion for its eleventh flagship fund, Advent International GPE XI, exceeding its target corpus of $26 billion, it said in a statement. Separately, the firm mopped up $3 billion for its maiden mid-market fund, Advent Mid-Market Private Equity.
"These funds reinforce our commitment to India and give us even greater capacity to back ambitious entrepreneurs and management teams as they build for the future," said Shweta Jalan, managing partner and India head at the PE firm.
Advent invests in India through its global funds and doesn't have an India-specific vehicle. It has added three companies to its India portfolio this year and re-invested in an existing portfolio company, deploying a total of almost $805 million, according to data collated by VCCircle. It invested about $328 million in Yatharth Hospitals, $150 million in Iscon Balaji and $305 million in Aditya Birla Housing Finance. It also topped up its investment in fintech firm Kreditbee with about Rs 200 crore (about $21.6 million) as part of a larger funding round.
"Advent has built a strong track record through recent investments including Yatharth Hospitals, Iscon Balaji, Aditya Birla Housing Finance, Svatantra and Apollo 24/7," said Jalan.
The PE firm's recent liquidity moves in India include exits from Aditya Birla Capital and Manjushree Technopack last year, and Bharat Serum and Vaccines in 2024.
Advent made its first India investment in 2007 when it backed Computer Age Management Services. It opened its Mumbai office in 2009. Overall, it has invested more than $5.6 billion across 23 deals in India. Its India portfolio also includes YES Bank, Eureka Forbes, Cohance Lifesciences Ltd, and DFM Foods.
The new global fund, GPE XI, will deploy capital across geographies, sectors, deal types, and size. The fund will maintain its focus on Europe and North America, while continuing to build Advent's active local presence in Asia Pacific and Latin America. The mid-market fund extends this strategy for companies of a different scale.
The mid-market fund is Advent's first vehicle targeting smaller buyouts and growth investments, the note said. The strategy will operate with the same deal teams as the global private equity fund, and will invest $100-350 million in companies with enterprise values of up to $1.25 billion primarily in North America and Europe.
These funds received commitments from a broad mix of new and existing investors, including public and private pensions, sovereign wealth funds, endowments and foundations, institutional fund managers, family offices, and high-net-worth individuals.
The PE firm focuses on five core sectors: business and financial services, consumer, healthcare, industrial, and technology. The firm has invested around $10 billion across 38 new and existing businesses in 2026 so far including closed and pending deals. The firm has realised nearly $13 billion across 27 businesses.
Founded in 1984, Advent operates 18 offices across five continents. The firm oversees over $109 billion in assets under management. It has made 460 investments across 45 countries.
Published by HT Digital Content Services with permission from VC Circle.