Edelweiss Wealth Management (EWM) announced that it has launched the third series of Edelweiss Crossover Opportunities Fund (Crossover III) with a targeted corpus of Rs 5000 crore (approx. USD 700 million).

Edelweiss Crossover Opportunities Fund - Series III will be a Category II AIF. It will focus on late-stage PE and Pre-IPO investments – a space that the Crossover Series have pioneered in India, as per the company statement.

The late-stage PE space has since gained momentum in the Indian scenario expanding to a new level of scale and opening larger opportunities. Crossover III will see the largest fund raise in the series, having raised nearly Rs 2200 crore through the earlier series.

With the late-stage PE / Pre-IPO strategy, the fund opens up access to private investments which usually are unavailable to most investors and enables them to capitalize on structural growth trends early on with reasonable exit time-horizons.

Nitin Jain, MD & CEO, Edelweiss Wealth Management said, “Private Equity is now a well-established asset class in India and is making significant contributions to the development of India’s emerging corporate sector, while generating strong returns for its investors. With a very strong track record in its previous tranches, the Edelweiss Crossover strategy adopts a partnership approach with its portfolio companies, where throughout the investment period, the fund team engages deeply with the company’s management to create a positive impact on their performance and thereby maximizing returns for our investors.”