Singularity Growth Invests Rs 400 Cr in Akshayakalpa, Lohum, and Others – Startup Story

Private equity (PE) firm Singularity Growth has announced investments totaling approximately Rs 400 crore across five companies, furthering its commitment to nurturing emerging growth opportunities. The beneficiaries of this investment include Lohum, Akshayakalpa, Classic Legend, Qucev, and Edville DC, with an additional undisclosed company set to receive further funding.

The investments are part of the newly-launched Singularity Growth Opportunities Fund II, boasting a total corpus of Rs 2,000 crore. This fund strategically targets sectors such as energy transition, consumer, financial services, enterprise software, and manufacturing, aiming to capitalize on promising growth trajectories.

Yash Kela, Founder and Chief Investment Officer of Singularity, expressed excitement about the partnerships, stating, We are excited to partner with these companies in their growth journey. Each of these investments align closely with our investment outlook, where we aim to leverage our expertise to support their growth trajectories. Portfolio strategy helps us deliver the fund back in a shorter time frame and optimise our capabilities.

Singularitys investment strategy focuses on deploying a significant portion of its corpus into growth-stage companies while also allocating resources for late-stage and early growth-stage enterprises. This approach aims for faster DPI (Distributions to Paid-In capital) and return of capital from the fifth year onwards, with the fund planned to draw down capital committed over a 2.5-3 year period.

Among the beneficiaries, Akshayakalpa Organic, a Bengaluru-based startup specializing in organic dairy products, had previously secured $12 million in its Series C funding round, led by A91 Partners. Similarly, Lohum, another startup within Singularitys portfolio, secured $54 million (Rs 450 crore) in a Series B funding round, with participation from Singularity Growth, Baring Private Equity, Cactus Venture Partners, and Venture East, among others.

In December of the previous year, Mithun Sacheti, previously associated with Caratlane, joined Singularity Growth as a general partner and co-sponsor, further enhancing the firms capabilities in identifying and nurturing promising investment opportunities.

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Singularity Growth Invests Rs 400 Cr in Akshayakalpa, Lohum, and Others - Startup Story