Mumbai, May 7 (PTI) Incred Alternative Investments on Tuesday said it has raised private equity fund worth Rs 330 crore.

Incred Growth Partners Fund I, its maiden PE fund, has received commitments of Rs 330 crore in its first close and is targeting a final close of Rs 500 crore, as per an official statement.

Also Read | What Is West Nile Fever? As Cases Reported in Kerala, Know All About Symptoms, Causes and Treatment for West Nile Virus Infection.

Investors who have committed include high networth individuals, it added.

The fund will be investing Rs 40-80 crore into growth and late-stage companies across consumer, financial services, and enterprise/technology sectors, the statement said.

Also Read | NEET Exam 2024: NTA Holds NEET UG Undergraduate Medical Entrance Exam Today, Check Dress Code Guidelines, Reporting Time, List of Prohibited Items and Other Important Instructions.

It is led by Vivek Singla, the managing partner and chief investment officer for private equity at Incred Alternatives.

Incred has raised about Rs 3,000 crore across private credit, hedge fund and PE fund strategies, the statement said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)