The India-based alternative asset manager is targeting $52 million in capital commitments to back late-stage startups.
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.
Billed as Australia's first dedicated secondary fund of VC funds, the vehicle held a first close last year.
This will be the first of several planned vehicles aimed at advancing secondary market activity, primarily in the Japanese market.
Key Capital's debut fund, which targets positions in tech companies through off-cap-table transactions, has already completed two transactions to date.
The vehicle, targeting around $30 million in size, has made two investments to date, backing Blue Tokai Coffee Roasters and Atomberg Technologies.
The Category II AIF targets pre-IPO and secondary market opportunities in India.
