Amazon India’s Local partner Samara Capital, a private equity firm is planning to secure close to $500 Mn for a new fund to step up investments in the consumer mid-market companies.
The Mumbai-based firm is planning to close the fund in the second half of 2022, Sumeet Narang, Samara Capital’s founder and managing director, said in an interview with Bloomberg.
Founded in 2007, the mid-market private equity firm has invested more than $1 Bn since its inception, as per its website.
“We have started the roadshows and many of our existing investors across the US, Europe, Middle East and Asia Pacific have already signed up,” Narang said.
Samara Capital Targets to raise $500 Million Fund to invest in Mid Market Companies
Samara Capital is interested in stepping up investments in a consumer market of a billion-plus people. About 120 companies, including online grocers to food delivery and beauty startups, raised about $18 Bn in initial public offerings last year, a record for the country.
The fund will consider investing $50 Mn to as high as $400 Mn in mid-market companies for a controlling stake, Narang said.
Samara and global ecommerce giant Amazon are partners in Witzig Advisory Services, an investment platform that acquired More Retail in 2019 from Aditya Birla Group.
