27-05-2025
Multiples Closes USD 430 Mn Continuation Fund Backed by Global Investors
The fund is aimed at acquiring interests in three high-growth companies from Multiples Fund II, alongside capital for follow-on investments.
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In a remarkable step reaffirming its long-term vision, India-focused private equity firm Multiples Alternate Asset Management announced the successful closing of a USD 430 million continuation fund.
The fund is aimed at acquiring interests in three high-growth companies from Multiples Fund II, alongside capital for follow-on investments.
This milestone transaction, oversubscribed and highly sought after, was led by global investing brands— HarbourVest Partners, Hamilton Lane, LGT Capital Partners, and TPG NewQuest. The deal offered liquidity to existing Fund II investors while giving them the opportunity to reinvest in the companies they believed in.
At the heart of this fund are three transformative enterprises: Vastu Housing Finance, a leader in affordable housing finance; Quantiphi, an innovator in AI and digital engineering; and APAC Financial Services, a rapidly expanding financial platform. These businesses, which reflect strong growth trajectories and sound fundamentals, have already caught the attention of investors globally.
Sudhir Variyar, MD and Deputy CEO of Multiples, shared, "This continuation fund allows us to deliver liquidity with certainty to our Fund II investors, while staying invested in businesses that embody the entrepreneurial mindset and the DNA that we deeply value."
With a history of successful exits — including IPOs and strategic sales — Multiples is reinforcing its reputation for maximising investor value and fostering lasting partnerships. This transaction is not just about capital; it is about conviction in the entrepreneurs behind these ventures.
Supported by UBS Private Funds Group as the exclusive financial advisor, and legal guidance from Kirkland & Ellis LLP for Multiples and Debevoise & Plimpton LLP for lead investors, the deal showcases Multiples' commitment to creating long-term value.
