Priyanka Tiwari
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Singularity AMC, a key player in India's growth equity landscape, has announced that its second private equity fund, Singularity Growth Opportunities Fund II (SGOF II), has been oversubscribed, securing ₹1,800 crore. The fund was launched in August 2023 with a base target of ₹1,500 crore and an additional ₹500 crore green shoe option.
Backed by market veteran Madhusudan Kela and led by Yash Kela and Caratlane founder Mithun Sancheti, the firm is focused on accelerating India’s journey toward self-reliance by supporting high-growth companies.
SGOF II Portfolio: Eight Companies Backed So Far
SGOF II has already invested in eight high-growth ventures:
Lohum – Battery recycling
HEG – Energy transition solutions
Sterling and Wilson Data Centre – Data center EPC
Sabine – IVF healthcare
Classic Legends – Manufacturer of JAWA motorcycles
Qucev – Electric vehicle maker
Deal 7 – Luxury watch retail
The fund plans to invest ₹75–₹175 crore in 12–15 companies over the next two years.
Investment Strategy and Sector Focus
SGOF II will:
Allocate 40% to late-stage companies
Invest 40% in profitable growth-stage ventures
Deploy 20% in high-conviction opportunity-VC (op-vc) plays
According to Yash Kela, Founder & CIO, “India is on track to become a $5 trillion economy by 2028-29. We believe sectors such as energy, manufacturing, financial services, and consumer will lead this growth.”
Strong Backing and Investor Confidence
Sandeep Bapat, Senior Partner & Co-CIO at Singularity AMC, noted that nearly all Fund I investors returned for SGOF II. The current portfolio is valued at ₹492 crore, with a Multiple on Invested Capital (MOIC) of 1.2x.
Singularity AMC’s Growth Journey So Far
Founded in 2016, Singularity AMC has launched three funds:
SGOF I: Closed at ₹560 crore in March 2023
SGOF II: Now oversubscribed at ₹1,800 crore
Listed PIPE Fund
SGOF I backed firms like Aimtrex, Bombay Shirt Company, Lohum, Oro, Silver Electrical, and Jana Small Finance Bank.
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