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.
The Seoul-based financial services firm provides brokerage, trading, investment banking, asset management, and advisory services.
The vehicle, targeting around $30 million in size, has made two investments to date, backing Blue Tokai Coffee Roasters and Atomberg Technologies.
Shinhan Innovation BDC No. 1 will invest at least 60% of its assets in "innovative companies" and LP-led secondary transactions.
RGCM Fund 1, which targets venture-backed company directs, attracted investments from several institutional LPs including Japan Investment Corporation.
The Category II AIF targets pre-IPO and secondary market opportunities in India.
