Malaysia-based private equity firm Creador has raised $300 million for its second fund.
The firm’s maiden fund, Creador I, had raised $130 million and focused on investments in Southeast and South Asia. Creador II would have the same strategy as its first fund, the company said in a press statement.
Investors in its latest fund were largely from outside Southeast Asia, with over 50 per cent coming from North America and Europe, the company said. One-third of the investors came from Asian countries. “The fund’s broad range of investors include foundations, university endowments, family offices, pension funds, fund of funds and other institutional investors,” the statement said.
“We believe one can never displace the passion of an entrepreneur. We are largely minority investors and are there to provide strategic guidance and support to help business grow and to build world-class companies,” says Brahmal Vasudevan, founder and chief executive officer of Creador.
“With our multinational team of investment and operating professionals and our deep understanding of the emerging-market trends in Southeast Asia, primarily Indonesia, Malaysia, Singapore and also in India, we look forward to continuing to deliver value for our partners,” he said.
Creador II has made six investments to date in Indonesia, Malaysia and India, in the financial services, consumer product manufacturing and business services industries.
In June, the firm invested Rs 100 crore ($16 million) to pick up a minority stake in plastic water tank maker Vectus Industries Limited. Also, Creador recently bought shares worth $2 million in Delhi-based tile manufacturer Somany Ceramics to take its total exposure to the company to $10 million. Its other investments in India include Cholamandalam Investment & Finance and Repco Home Finance.
Private equity and venture capital industry in India has raised around $15.2 billion over the last one year. There is around $14.4 billion dry powder in India yet to be invested by PE/VC firms.
(Edited by Joby Puthuparampil Johnson)