Neo Asset Management has successfully completed the first close of its flagship private equity vehicle, the Neo Secondaries Fund. Targeting a total corpus of ₹2,000 crore, the fund has garnered strong investor interest, raising approximately ₹750 crore within just three months of its launch from a distinguished set of marquee investors.
Neo Secondaries Fund is a SEBI-registered Category II AIF, focusing on acquiring secondary stakes in unlisted Indian companies offering liquidity to various investors. The fund targets companies who are leaders in their segments, generating positive EBITDA and has a huge runway for growth. The fund also looks for strong governance practices, growing historical revenues, and clear path to exit within 24–48 months post investing.
So far, the fund has seen strong deal flows and has closed three investments already. Additionally, it has recently signed up a multi-asset deal with a leading VC firm in the country and is actively tracking a robust deal pipeline. Current investments are in top-tier, late-stage companies who are proven market leaders across the consumer, technology, and AI/analytics sectors.
The fund is managed by Mr. Nitin Agarwal, Head – Private Equity, Neo Asset Management, who has over 24 years of experience, including leadership roles at leading global secondaries and private equity platforms.
Commenting on the announcement, Mr. Nitin Jain, Chairman & Managing Director, Neo Group said: India is the fastest-growing major economy in the world, and private markets are playing a pivotal role in driving capital formation. The Neo Secondaries Fund represents a strategic expansion of our platform into the private equity space. We’re seeing a strong investor demand for access to scaled, profitable businesses at value-accretive entry point. NSF is purpose-built to address that demand, through a disciplined and opportunity-led investment approach.
Mr. Hemant Daga, CEO & Co-Founder, Neo Asset Management said: Neo Secondaries Fund provides investors with exposure to a curated portfolio of high-growth, market-leading companies. It is built on rigorous underwriting and is well-positioned to deliver superior risk-adjusted returns. He added, our approach is rooted in disciplined investing and deep sector insights. In today’s environment, where access to quality businesses is increasingly competitive, NSF offers differentiated exposure to companies with strong fundamentals and clear exit pathways. This reflects our commitment to building a best-in-class alternatives platform that creates long-term value for investors.
Mr. Nitin Agarwal, Head – Private Equity, Neo Asset Management said: We are seeing growing demand for secondary capital in India as early investors look for liquidity and companies continue to scale. NSF is well positioned to solve for liquidity and DPI challenges faced by existing investors, offering them timely exit options. At the same time, new investors benefit from quicker cashflows and shorter holding periods, making secondaries a compelling strategy in India’s evolving private equity ecosystem.
