Singularity AMC’s SGOF II oversubscribed at Rs 1,800 Cr, poised for final close
Launched in August 2023, the fund reached its first close at Rs 500 crore within a month, the company said.
Singularity AMC, a growth equity investment firm, said that its second private equity fund, Singularity Growth Opportunities Fund II (SGOF II), has been oversubscribed at Rs 1,800 crore, surpassing its initial target of Rs 1,500 crore with an additional Rs 500 crore green shoe option.
Launched in August 2023, the fund reached its first close at Rs 500 crore within a month, the company said.
SGOF II has already deployed capital into eight high-growth companies spanning energy transition, next-gen industrials, consumer, healthcare, and financial services. Its portfolio includes Lohum, a battery recycling startup; HEG, a diversified energy transition platform; Sterling and Wilson Data Centre, a leading data center EPC provider; and Sabine, an integrated IVF healthcare company.
Other investments include Classic Legends, the maker of JAWA motorcycles; Qucev, a manufacturer of sustainable EVs; and Deal 7, a luxury watch retailer. The fund aims to invest in 12-15 companies over the next two years, with individual investments ranging between Rs 75 crore and Rs 175 crore.
Led by Yash Kela and Caratlane founder Mithun Sacheti, the firm manages three funds aimed at supporting high-growth Indian businesses.
SGOF II has attracted backing from over 40 prominent family offices and institutional investors, including Premji Foundation, Nippon FOF, and SRI. The fund is structured to enable faster distributions to paid-in capital (DPI) by allocating over 40% of investments to late-stage companies, another 40% to profitable growth-stage businesses, and the remaining 20% to high-conviction venture-stage opportunities.
Yash Kela, Founder & CIO at Singularity AMC, said, “With India on its path to becoming a five-trillion-dollar economy by 2028-29, we believe sectors like energy, manufacturing, financial services, and consumer will be key drivers of growth. We are excited about the oversubscription of SGOF II and remain committed to deploying capital into high-potential businesses over the next two to three years.”
Singularity’s first fund, SGOF I (Rs 560 crore), launched in 2021, has already seen significant success, with five of its portfolio companies listed on public markets and four more in advanced discussions for IPOs. The fund has made a gross investment of Rs 613 crore across 16 companies and is on track to achieve a 3x multiple on invested capital (MOIC) and 1x DPI by FY26, delivering a 30% internal rate of return (IRR).
Edited by Jyoti Narayan