Evolvence Courts Domestic LPs For Its Largest Fund Yet

Evolvence India to raise $300 mn for its fifth fund, including $100 mn from local LPs, in shift from foreign investors

- Priyamvada C

Evolvence India is gearing up to raise its fifth fund, targeting a corpus of $300 million, including $100 million from Indian investors, according to managing partner Ajit Kumar.

The firm also has an option to expand the fund size with a green shoe provision, marking a strategic shift as Evolvence actively courts domestic investors amid evolving funding dynamics worldwide, Kumar said in an interview with Mint.

"In the past, we raised capital from investors in the US, Europe and the Middle East and now we are considering a domestic tranche," said Kumar.

It is planning to raise $100 million from Indian investors, and the remaining from international limited partners (LPs).