By the end of 2023, Zephyr Peacock will launch its fourth India fund
- ByStartupStory | November 29, 2022
According to Pankaj Raina, Managing Director of Investments and Research at the firm, Zephyr Management, a private equity firm with its headquarters in New York, wants to hit the road to raise its fourth fund by the end of 2023.
Zephyr Peacock India has backed six businesses with its $100 million third fund raised in 2020, including the education financing firm Shiksha Finance, the working capital provider Loanzen for light commercial vehicles, the farm diversification platform Aqgromalin, the agri commodity trading platform POSHN, the supply chain platform ZippMat for the construction industry, and the FMCG distribution platform Ripplr. Before raising the next fund, the company, which typically invests in seed-plus, Pre-Series A, and Series A rounds, intends to support approximately 14 different businesses.
The digital logistics company 20Cube, with offices in Singapore and Chennai and a focus on emerging countries, recently announced plans to go public on the US market via SPAC (Special Purpose Acquisition Company). After the listing, Zephyr Peacock intends to partially sell its holdings in the business through secondary share sales.
Through the secondary sale of shares, the fund will also sell its holdings in MPOWER Financing, a provider of student loans for study abroad. According to Pankaj, the new fund will continue to concentrate on small and mid-sized businesses in the infrastructure ancillaries, financial services, and food and agriculture sectors.
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