“We will continue to invest in high-performing mid-market companies, as on previous occasions, with a time horizon of two to three years in mind,” Agarwal, who joined the company early this year, told ET.
Modulus will focus on sectors such as chemicals, healthcare, pharmaceuticals, industrials, clean energy, EV mobility, financial services and automotive accessories.
The first two funds – with sizes of Rs 360 crore and Rs 725 crore respectively – have collectively deployed around Rs 3,150 crore in 29 transactions, while successfully exiting 18 investments and cumulatively returning over Rs 1,750 crore to investors.
Promoted by Center Group, Modulus has former Reliance Industries chief financial officer Alok Agarwal as its lead investor with about 24% stake.
The alternative investment manager is planning two more funds outside the private credit space. It is exploring a venture capital fund, which will be followed by a pre-IPO equity fund, people familiar said.
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