IIFL Capital Asset Management Ltd on Wednesday said it has raised around `500 crore in capital commitments at the first close of its maiden late-stage private equity fund. The fund targets a corpus of `1,000 crore, with a greenshoe option of an additional `1,000 crore, IIFL Capital said in a statement.
The IIFL Late-Stage Private Equity Fund achieved its first close on September 15, 2026, and will remain open for subscriptions, with the final close targeted within the next nine months, it said.
The fund will invest in scaled-up, profitable Indian enterprises preparing to list on the stock market in the near term. It has already committed investments in two companies and is evaluating a pipeline of 7-8 opportunities, ranging from term-sheet negotiations to transactions under due diligence, Deepak Mittal, Chief Investment Officer and Head of Private Equity at IIFL Capital Asset Management Ltd, said.