Duro Capital raises Rs 200 Cr in first close of India-focused fund to invest in listed cos
The Duro Opportunities Fund is targeting an initial raise of Rs 1,000 crore from select Indian family offices, marking the firm’s first domestic vehicle.
India-focused investment management firm Duro Capital has raised Rs 200 crore in the first close of its Duro Opportunities Fund—a domestic vehicle that will invest in publicly traded companies in India.
The fund is targeting an initial raise of at least Rs 1,000 crore from select Indian family offices, and is looking to build a portfolio of 20-25 companies.
Duro Capital launched the Duro Opportunities Fund, a category III alternate investment fund registered with SEBI, in July. It will focus on sector-agnostic companies across market capitalisation and sectors.
The fund will look to invest into equity and equity-related securities of fairly priced businesses and companies that have a defensible right-to-win in their industries and those that are undergoing structural changes, said the firm in its website.
In a statement, Nishchay Goel, Founder & Chief Investment Officer at Duro Capital, said that the firm uses a three-pillar investment framework coupled with a rigorous process to filter companies—an approach that minimises errors and curbs the temptation to chase “flavour-of-the-day” ideas. This, he said, “keeps the entire team focused on our singular objective of owning businesses capable of compounding earnings at ~25% over our fund’s holding period."
Duro Capital’s portfolio includes passenger airline service IndiGo, telecom firm Airtel, and technology firm Info Edge, according to its website.
“Over the past 15 years, we have managed foreign institutional capital in Indian equity markets with strong results. 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,” said Goel.
Founded by Goel in 2018, Duro Capital is based out of Singapore.
Edited by Swetha Kannan