ChrysCapital secures $700 mn to preserve NSE stake amidst investor shuffle

ChrysCapital secures $700 mn: Private equity firm ChrysCapital has announced that it has successfully raised  $700 million in fresh funds. This financial influx empowers the firm to uphold its position on India's National Stock Exchange (NSE) through a buyout initiative.

With over $4 billion already deployed in various ventures, ChrysCapital orchestrated this fundraising primarily with significant contributions from notable entities such as US-based HarbourVest and European funds Pantheon Ventures and LGT Capital Partners.

Termed as a "continuation fund," this financial manoeuvre enables ChrysCapital to sustain its foothold in the NSE, a market it initially entered back in 2016. Meanwhile, it facilitates the transition of older stakeholders as they divest their interests to newer investors, a common occurrence in the lifecycle of private equity investments.

Typically, private equity firms operate within an investment horizon of 8 to 10 years, aiming to divest and deliver returns to their investors within this timeframe.

NSE, ranked among India's premier stock exchanges and boasting the title of the world's largest derivatives exchange, stands as a pivotal player in the country's financial landscape. Its significance has been further amplified in recent years, coinciding with India's emergence as an attractive destination for foreign capital. The nation's status as the world's fastest-growing major economy has lured foreign investors, propelling the growth trajectory of its stock exchanges.

ChrysCapital's strategic move not only underscores its commitment to the Indian market but also reflects the dynamic nature of global investments amidst evolving economic landscapes.

(with Reuters inputs)