The firm is eyeing up to $150 million in final commitments to pursue late-stage secondary deals across India and Southeast Asia.
The alternative asset manager, which has begun the process of listing in India, is reportedly targeting $131 million for the strategy.
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.
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.
