The India-focused vehicle has a target size of $75 million and will allocate capital across primaries, secondaries, and co-investments.
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.
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.
Key Capital's debut fund, which targets positions in tech companies through off-cap-table transactions, has already completed two transactions to date.
The pre-IPO funding round, which included a mix of primary and secondary capital, reportedly valued the dairy producer at $1.1 billion.
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.
