The firm is led by Indian VC and secondary market veterans Piyush Gupta and Norbert Fernandes.
The alternative asset manager, which has begun the process of listing in India, is reportedly targeting $131 million for the strategy.
The firm is eyeing up to $150 million in final commitments to pursue late-stage secondary deals across India and Southeast Asia.
Avendus Future Leaders Fund III, which is already 30% deployed, has invested ~$15 million in Parag Parikh Financial Advisory Services via secondary.
The India-focused vehicle has a target size of $75 million and will allocate capital across primaries, secondaries, and co-investments.
This will be the first of several planned vehicles aimed at advancing secondary market activity, primarily in the Japanese market.
The India-based alternative asset manager is targeting $52 million in capital commitments to back late-stage startups.
The Seoul-based financial services firm provides brokerage, trading, investment banking, asset management, and advisory services.
Shinhan Innovation BDC No. 1 will invest at least 60% of its assets in "innovative companies" and LP-led secondary transactions.
The Category II AIF targets pre-IPO and secondary market opportunities in India.
