We stay away from serial fundraisers says this PE firm that just closed its ₹1,000 crore fund

• Oaks Asset Management raised 40% more than what it intended to, for its second fund.
• This is a testament to the resilience of India’s consumer story, says its founder and CEO.
• Its first fund invested in Hero Electric which is on track to raise a large round of capital this quarter.
• All its businesses have weathered the pandemic in the last two years, the PE fund says.

A Mumbai based mid-market private equity fund, Oaks Asset Management, had intended to raise ₹700 crore for its second fund. Instead, it ended up raising close to ₹1,000 crore and intends to close it next month.

This response even in times of funding winter and chunky outflow of foreign investors away from India – is a testament to the resilience of India’s consumer story, according to the fund’s founder and CEO, Vishal Ootam.

“We have always had deep conviction in the Indian consumer story and believe that as a market, India continues to offer multiple yet simple penetration and growth opportunities,” he says.

Its first fund has made multiple investments including Hero Electric which is on track to raise a large round of capital this quarter. “This round is expected to close at a meaningful premium to the last round,” the PE fund says.

They also invested in a millets-based snacks company called Troo Good, and CredAble, an award-winning AI-powered technology platform – whose value has already swelled 11 times its original investment valuation.

The PE firm has also invested in an NBFC, an apparel company and a catering company. All these businesses, it says, have weathered the pandemic in the last two years. Moreso, two of their firms are on track to go for a public offer in the next 18-24 months.

Their investment philosophy, the company says, is to stay away from businesses that are into serial fundraising and businesses with ‘Winner takes all’ attitude.

“In sharp contrast to the otherwise sombre commentary that one might hear about the investment climate around, we have witnessed some of the most exciting times in our journey over the past 12-18 months. We have always invested in traditional consumer brand stories driven by seasoned entrepreneurs or business families that focus on profitable growth,” says Vivek Anand PS, founder and MD of OAKS Asset Management.
SEE ALSO:
Four 12-hour days or five 10-hour work days - difficult choices ahead of a 4-day work week
RBI kept the rupee ‘exceptionally’ stable so far, and the tide could turn for the better say experts