360 One pays ₹6k cr from pre-IPO fund

360 One Asset, the private equity (PE) and venture capital arm of 360 One WAM Ltd (formerly IFL PE), has returned around ₹6,000 crore to investors from the pre-initial public offering (IPO) fund.

- Sneha Shah Ranjani Raghavan

It expects to fully monetize the first fund from its pre-IPO franchise within one year, said a top company executive.

“The (first) series is starting to mature over this 12 month period, hence we are returning capital and will fully exit these positions in the course of the next 12 months," Sameer Nath, chief information officer, 360 One Asset, said.

Last week, 360 One was in the news following a report by the Organized Crime and Corruption Reporting Project (OCCRP) that said the company structured two funds—Emerging India Focus Fund and EM Resurgent Fund—to invest in Adani group entities.

The report said Adani family members invested in overseas vehicles, which then invested in Adani group funds, manipulating the share prices.“The funds, as on date, have zero investment in any of the shares of Adani Group. In the past, among other portfolio investments, the two funds have had investments in shares of Adani Group companies; all of which were sold in 2018," 360 One said in a filing to the exchanges on 30 August.