Former Peak XV Partners MD unveils Secondary Investment Fund
Former Peak XV Partners managing director Piyush Gupta has launched an investment firm, Kenro Capital, that will focus on secondary transactions.
Secondary transactions involve shares being exchanged between investors at a mutually agreed price, without involving the infusion of new capital into the company or the issuance of additional shares.
Seven months after Piyush Gupta left Peak XV, the development comes. The entrepreneur joined Sequoia Capital in 2017 as the head of strategic development at the venture capital firm. Before that, he worked for Morgan Stanley and Deutsche Bank for more than a decade.
The new fund was launched by Gupta and Norbert Fernandes, an experienced private equity investor with more than 17 years of investing experience at Temasek, IvyCap Ventures, and TR Capital.
Kenno Capital will invest in companies located in India and Southeast Asia. The company is domiciled in Singapore and will be investing around $20-30 million in growth secondary transactions, according to media reports.
The goal is to acquire minority stakes in growing enterprises with soaring revenues, financial viability or near-financial viability, and a compelling likelihood of being listed on the stock exchange within 2-3 years.
Domestic financial investors Oister Global and Tribe Capital India recently partnered to launch their secondary franchise in India, with plans to invest $500 million over the next two years. May saw the launch of a $480 million secondary fund by 360 ONE Asset Management, formerly known as IIFL Asset Management Ltd.
Secondary transactions involve shares being exchanged between investors at a mutually agreed price, without involving the infusion of new capital into the company or the issuance of additional shares.
Seven months after Piyush Gupta left Peak XV, the development comes. The entrepreneur joined Sequoia Capital in 2017 as the head of strategic development at the venture capital firm. Before that, he worked for Morgan Stanley and Deutsche Bank for more than a decade.
The new fund was launched by Gupta and Norbert Fernandes, an experienced private equity investor with more than 17 years of investing experience at Temasek, IvyCap Ventures, and TR Capital.
Kenno Capital will invest in companies located in India and Southeast Asia. The company is domiciled in Singapore and will be investing around $20-30 million in growth secondary transactions, according to media reports.
The goal is to acquire minority stakes in growing enterprises with soaring revenues, financial viability or near-financial viability, and a compelling likelihood of being listed on the stock exchange within 2-3 years.
Domestic financial investors Oister Global and Tribe Capital India recently partnered to launch their secondary franchise in India, with plans to invest $500 million over the next two years. May saw the launch of a $480 million secondary fund by 360 ONE Asset Management, formerly known as IIFL Asset Management Ltd.
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