Its 2024 predecessor set the record for the strategy after closing with $3.3 billion in capital commitments.
The alternative asset manager, which has begun the process of listing in India, is reportedly targeting $131 million for the strategy.
LTC Invest Fund V, which is targeting $250 million in size, is reportedly anchored by Founder and CEO Konstantin Sidrov and Revolut Chairman Martin Gilbert.
The firm's lower fees in its flagship secondary funds will be offset by growth in its private wealth assets, according to CFO David Park.
The alternatives manager also gave updates on the fundraising status of several other secondaries strategies spanning private equity, GP-leds, venture capital, and infrastructure.
The firm's largest fund to date will invest across direct secondaries, company-led tender offers, bespoke structured investments, and select primary financings in growth-stage tech companies.
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.
Its 2024 predecessor set the record for the strategy after closing on $3.3 billion in capital commitments.
The firm's 2024 predecessor holds the title of the largest-ever VC secondaries fund, with $3.3 billion raised.
