Paragon Partners raises $120m

The India-based firm closed its debut fund.

Paragon Partners held a final close for its Paragon Partners Growth Fund at $120 million.

The firm began fundraising in 2015. It received commitment from Edelweiss Capital, IIFL Holdings, Kotak Mahindra Group, Small Industries Development Bank of India (SIDBI) and the Fairfax Group.

The fund will use the capital to make high-growth investments in a diverse number of sectors in India.

Ion Pacific Limited served as international advisor and exclusive placement agent to Paragon Partners.