Bharat Value Fund raises Rs 1,250 Cr in first close of its third fund

Bharat Value Fund on Tuesday raised Rs 1,250 crore as part of its first close of Bharat Value Fund (BVF) Series 3, the asset management firm’s third fund.

Managed by The Wealth Company, formerly Pantomath Capital Management, the fund has set a target corpus of Rs 2,500 crore, including a green shoe option of Rs 1,000 crore.

“The Wealth Company is committed to fostering India’s mid-market growth through strategic investments and active ownership. We are humbled by the trust our investors have placed in our vision and execution capabilities. We remain dedicated to unlocking value for our stakeholders and driving the next phase of growth in India’s entrepreneurial ecosystem,” said Madhu Lunawat, Managing Director of The Wealth Company.

The fund targets mid-market and high-growth enterprises, often rooted in Tier II and III cities, with revenue between Rs 300 crore and Rs 1,000 crore.

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According to BVF, this thesis allows the fund to structure exit strategies, including initial public offering, within 30-36 months after investment, while also offering paths such as private equity or mergers and acquisitions.

The fund’s first close comes when many growth-stage startups aim to go public.

The category II Alternative Investment Fund (AIF) fund has previously raised Rs 500 crore in 2023 as part of BVF Series 1 and Rs 1,800 crore as part of BVF Series 2. With the third fund, the firm plans to raise the full target corpus of Rs 2,500 crore by mid-2025.

Most recently, the fund invested Rs 161 crore in electric vehicle manufacturer BGauss, and in November, it invested Rs 235 crore in packaged snack company Haldiram Bhujiawala for a minority stake.