The joint venture will support the development of liquidity solutions for investors in Stake products, particularly its UAE real estate portfolio.
The alternative asset manager, which has begun the process of listing in India, is reportedly targeting $131 million for the strategy.
The participants plan to expand the range of transferable private credit assets and improve verification as tokenized secondary markets develop.
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.
The Sejong-based agency will allocate at least 70% of the capital to developed markets in North America and Europe.
The India-based alternative asset manager is targeting $52 million in capital commitments to back late-stage startups.
The deal is reportedly expected to provide liquidity to early backers, including Lok Capital and British International Investment.
The pre-IPO funding round, which included a mix of primary and secondary capital, reportedly valued the dairy producer at $1.1 billion.
