MOPE raises $320m

The Mumbai-based investment firm has announced the final close on its third fund.

Motilal Oswal Private Equity (MOPE) has held a final close on its third fund, India Business Excellence Fund III (IBEF III), at INR 23 billion ($320 million; €275 million) against its target of INR 18 billion ($250 million; €219 million).

Anchored by domestic and global institutions, large family offices and high-net-worth individuals, the Fund seeks investment opportunities in 12 to 14 mid-market companies with strong growth characteristics. So far, it has already done three investments in financial services, consumer and manufacturing segment.