360 ONE Asset, a prominent player in the investment landscape, has ventured into the private equity secondaries market with the introduction of a ₹4,000 crore fund, signaling a significant move in the investment landscape. With more than half of the fund already secured, the firm aims to capitalize on emerging opportunities in the secondary market.
Sameer Nath, the Chief Investment Officer and Head of Venture Capital and Private Equity at 360 ONE Asset, revealed that the fund has already closed five investments, marking a robust start and providing substantial visibility into the portfolio, estimated to encompass 20-25 percent.
In a global context, the secondaries market boasts a staggering valuation exceeding $130 billion, underscoring its significance in the investment ecosystem. Despite its nascent stage in India, secondary funds play a pivotal role by acquiring existing assets or stakes from primary PE investors.
Nath further elaborated on the investment strategy, highlighting an average ticket size ranging between ₹150-250 crore. Emphasizing the focus on attractive entry points to ensure favorable returns, the fund is poised to explore various avenues, including secondary-led pre-IPOs, single and multi-asset secondary deals, and special situations.
360 ONE Asset, managing assets worth $8.7 billion, is part of the esteemed 360 ONE group, boasting a staggering $56 billion of assets under management. With a portfolio comprising over 100 companies, including 30 unicorns, the firm has established a formidable presence in the investment landscape. Last year, it unveiled its inaugural multi-asset fund, diversifying its investment offerings.
Striving for a comprehensive investment approach, 360 ONE Asset aims to cover all funding stages, ranging from early and mid-stage to pre-IPO and late-stage, further solidifying its position in the investment landscape. Noteworthy investments include stakes in prominent entities like NSE, NSDL, ANAROCK, Pharmeasy, and upcoming IPO candidates like Swiggy and FirstCry.
In addition to the newly launched secondary fund, the firm is actively developing a healthcare fund, with promising developments underway. Additionally, plans are in motion for the launch of an early-stage venture fund, alongside a fourth pre-IPO fund, demonstrating a robust commitment to diversified investment strategies in the evolving market landscape.
