Singularity Growth Opportunities Fund II Hits Oversubscription

Singularity AMC, a prominent growth equity platform focusing on private investments and PIPEs, has revealed that its second private equity fund, the Singularity Growth Opportunities Fund II (SGOF II), is oversubscribed, reaching a remarkable Rs 1800 crore. This fund was initiated in August 2023, starting with a target corpus of Rs 1,500 crore, subsequently enhanced by a green shoe option of Rs 500 crore.

Strong Investor Demand and Focus Areas

The SGOF II fund garnered substantial interest from investors, achieving its first closure of Rs 500 crore just within one month of launch. The fund is strategically focused on sectors pivotal to the Energy Transition, next-generation industrial advancements, Consumer goods, Healthcare, and Financial Services.

Investment Portfolio Highlights

SGOF II has already made significant investments in eight companies, showcasing its diverse portfolio. Noteworthy investments include:

• Lohum, a startup specialising in battery recycling.
• HEG, a platform dedicated to energy transition.
• Sterling & Wilson Data Centre, an EPC provider for data centres.
• Sabine, a company in the IVF healthcare sector.
• Classic Legends, well-known for producing JAWA motorcycles.
• Qucev, a manufacturer of sustainable electric vehicles.
• Deal 7, a retailer of luxury watches.

Over the next two years, the fund intends to strategically allocate Rs 75-175 crore across 12-15 companies.

About Singularity AMC

Founded in 2016, Singularity AMC is spearheaded by Yash Kela and Mithun Sacheti. The firm effectively manages three different funds and has made investments in high-profile entities such as Swiggy, Paytm, Jana Small Finance Bank, and Jawa. Its inaugural fund achieved an impressive 30% IRR and is on track to deliver 3x Multiple on Invested Capital (MOIC).

Structured Investment Strategy

The fund employs a meticulous investment strategy, dividing its allocations as follows: 40% to late-stage companies, another 40% to profitable growth-stage firms, and the remaining 20% to high-conviction venture-stage opportunities. Presently, the value of its portfolio stands at Rs 492 crore, with a reported Multiple on Invested Capital (MOIC) of 1.2x.