India-based based private equity firm Xponentia Capital Partners on Tuesday announced that its second fund, Xponentia
Opportunities Fund II, has raked in more than $120 million.
Xponentia announced the first close of Fund II in July last year and has already invested around $32 million across four companies, including commercial electric vehicle maker Altigreen, fintech platform Zype, casual fashion brand The Souled Store, and education financing platform Auxilo.
The fund was oversubscribed and exceeded its initial target of $90.4 million, according to a release.
Existing as well as new investors in the Indian market, mainly comprising high net worth individuals (HNIs), family offices, insurance companies, and the Fund of Funds programme managed by the Small Industries Development Bank of India (SIDBI), invested in the fund.
The predecessor fund, Xponentia Opportunities Fund I which was launched in 2019, is fully invested in eight companies.
Founded in 2018, Xponentia Capital Partners is a Mumbai-based private equity firm focused on investing in high-growth mid-market companies.
The company’s portfolio includes mortgage fintech startup Easy Home Finance, baby products company R for Rabbit, medical diagnostics company Medsource, India’s largest casual dining restaurant chain Barbeque Nation, and pilot training company FSTC.
Last year, Xponentia reported a full exit from Spoton Logistics and a partial exit from Barbeque Nation when the restaurant chain made its public market debut in 2011. The company expects to report one more exit later this financial year from a Fund I portfolio company.