ValueQuest raises Rs 1,500 crore from domestic LPs

ValueQuest Investment Advisors has raised ₹1,500 crore for its private equity fund, which will invest in advanced manufacturing sectors like aerospace, defence, and energy transition.

ValueQuest Tristar, a fully rupee-denominated fund, has exceeded its ₹1,500 crore target and activated a ₹500 crore greenshoe option, said Aniket Dharamshi, Managing Director and Fund Manager. The Mumbai-based alternative investment firm aims to complete the fundraise by the end of the year.

Read also- Nvidia partners with Indian VC firms to fund next wave of Indian AI startups

The fund plans to invest in 8–12 companies, with cheque sizes of ₹150–400 crore each, and expects to deploy all capital within 18–24 months.

“We look for businesses that already have proven product-market fit, positive unit economics, and established customer relationships,” Arvind Ananthnarayanan, Tristar’s fund manager, said. “We do not underwrite loss-making ideas. Instead, we fund capex and working capital for scale-up.”

ValueQuest believes it’s the right time to deploy capital in advanced manufacturing sectors and noted that such firms are also tapping the IPO market. “There are multiple examples of aerospace and defence companies listing and continuing to scale through public markets,” Ananthnarayanan said.

The fund has already invested in Rangsons Aerospace, which serves leading domestic and global aerospace and defence clients, and in Waaree Energy Storage Solutions, a manufacturer of lithium-ion cells, battery packs, and energy storage systems for India and abroad.

Advertisment

On defence investments, Ananthnarayanan said the fund was an early backer of defence public sector companies such as Mazagon Dock, Cochin Shipyard, HAL, BEL, and Garden Reach, even before the sector gained policy momentum.

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Latest Business and Startup News: Discover Funding Trends and Stories Shaping Indian Startups.

Startup Funding News: Your Gateway to Every Funding Update.

Latest Startup News: Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.

Startup Stories: Discover inspiring tales of startups overcoming challenges, and achieving succes.