Cosmos Group Forays Into AIF Landscape, Launches Rs 500 Cr Maiden Fund
Cosmos Group, a diversified business conglomerates, on Tuesday, lunched its maiden Alternative Investment Fund (AIF). The fund aims to raise Rs 500 crore, with an additional green shoe option of Rs 250 crore. With the fund launch, the group aims to back SME (Small and Medium Enterprises) sector.
Led by the partnership of Cosmos Group and Mayank Singhvi as its CEO, the fund will prioritise investments in the SME sector, aligning with the group's vision to foster growth and innovation within this vital segment of the economy, the company said in a statement.
In addition to its focus on the SME sector, Cosmos Group also plans to launch a Category 2 Debt fund, further expanding its footprint in the financial services domain.
Commenting on the launch, Cosmos Group Chief Visionary Officer, Ankit Sapra said, "We are thrilled to embark on this new journey into the realm of Alternative Investment Funds. Our partnership with Mayank Singhvi and our focus on the SME sector reflect our unwavering commitment to driving positive change and creating value for our stakeholders."
Cosmos Group portfolio includes financial services, real estate, hospitality, aviation and corporate advisory business verticals.
Individual investors and venture capital are no longer the exclusive domain of India's AIF sector. Numerous domestic and international financial institutions, pension funds, sovereign wealth funds, endowment funds, bank treasuries and family offices have expressed a great deal of interest in and participation in it.
Investing in AIFs is becoming more and more popular in India, and this increase can be attributable to a few important factors. According to Sebi (Securities and Exchange Board of India) data, the amount of commitments raised by AIFs increased by 30 per cent year-on-year in 2022 to 2023 from Rs 6.41 trillion to Rs 8.33 trillion.
