Mumbai, March 1
OAKS Asset Management has launched its second private equity fund with a target corpus of ₹500 crore and a greenshoe option of another ₹250 crore to invest in entrepreneur-led consumer businesses.
The new fund - OAKS India Consumer Fund – is an AIF Category-II Fund and registered with SEBI, and will invest about ₹25-100 crore in about 10-12 businesses. It has already received initial commitments worth ₹400 crore, a statement from the company said in statement.
“We have had deep conviction in the Indian consumer story. India continues to offer simple penetration and growth opportunities. We invest in consumer brands operating in monster markets with significant tailwinds. We will continue to deliver on our promise and conviction like we have done over the past decade,” Vishal Ootam, Founder and CEO, OAKS Asset Management, said.
The fund will seek to partner with proven founders who are demonstrating meaningful revenues and growth in large target markets in a capital-efficient manner.
“We have always invested in traditional consumer brand stories driven by seasoned entrepreneurs or business families that focus on profitable growth. We do not invest in businesses that are dependent on serial fund raises nor do we invest in businesses that operate in the ‘Winner takes All’ categories. Essentially, all our businesses focus on creating brands that provide better products, service quality and enhance customer experience at affordable prices,” Vivek Anand PS, Founder and Managing Director at OAKS Asset Management said.