India’s Paragon Partners pulls in about $120m for final close of debut fund


Indian private equity investor Paragon Partners has hit a final close for its debut private equity fund by pulling in about $120m.

AltAssets revealed in March last year that the firm had hit a $50m first close for the mid-market vehicle, five months after it was launched by Indian private equity investor Siddharth Parekh and entrepreneur Sumeet Nindrajog.

A statement from the pair said, “Achieving our final close on our first fund is an important and exciting milestone for us.

“We are today very well positioned to pursue the opportunity we have identified in the mid-market in India.”

Paragon focuses on opportunities in core sectors within the Indian economy, including consumer spending, financial services, infrastructure, manufacturing, industrials and healthcare.

It typically makes investments of between $10m and $15m, and has already tapped the fund for four deals totalling about $45m of invested capital.

Nindrajog said, “We are confident that our highly experienced investment team, deep sector expertise and disciplined investment approach will enable us to capitalise on the attractive fundamentals offered by the mid-market segment in India.

“We will continue partnering with talented management teams to propel their businesses.”

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