Singularity AMC, backed by investing veteran Madhusudan Kela and led by Yash Kela alongside Caratlane founder Mithun Sacheti, has successfully oversubscribed its second private equity fund, SGOF II, at ₹1,800 crore—exceeding its initial target of ₹1,500 crore and a ₹500 crore green shoe option. Launched in August 2023, SGOF II achieved its first close at ₹500 crore within a month and has already deployed capital into eight companies spanning energy transition, consumer, next-gen industrials, healthcare, and financial services. Notable investments include Lohum, Sterling and Wilson Data Centre, Qucev, and Sabine.

With plans to invest ₹75–₹175 crore in 12–15 companies over the next two years, the fund has attracted leading investors such as the Premji Foundation and Nippon FOF. SGOF II builds on the success of SGOF I, which closed at ₹560 crore, backing 16 companies—five of which are already listed, with four more IPOs expected soon.

“With India poised to become a five-trillion-dollar economy by 2028-29, we believe key growth drivers will be energy, manufacturing, financial services, and consumer sectors. At Singularity, we remain bullish on these areas. We are pleased to announce that SGOF II is oversubscribed at ₹1,800 crore, with eight high-growth investments already made and further deployment planned over the next 2–3 years,” said Yash Kela, Founder & CIO at Singularity AMC.

The fund’s portfolio is currently valued at ₹492 crore, reflecting a Multiple on Invested Capital (MOIC) of 1.2x. According to Sandeep Bapat, Senior Partner & Co-CIO at Singularity AMC, the fund’s structure—allocating over 40% to late-stage companies and another 40% to profitable growth-stage firms—enhances Distributions to Paid-in Capital (DPI).

SGOF II follows the trajectory of SGOF I, which closed in March 2023 at ₹560 crore, investing ₹613 crore across 16 companies. With five listings already completed and four more expected in the next 12–15 months, SGOF I is delivering a 30% internal rate of return (IRR) and aims to achieve ~1x DPI by FY26.

Singularity AMC remains committed to investing in high-growth Indian companies aligned with the government’s self-reliance vision. Across its three funds—including a listed PIPE strategy—the firm has invested in companies such as Jana Small Finance Bank, Bombay Shirt Company, Silver Electrical, and Oro.