Motilal Oswal Alternates

The fund will invest between $40 million and $100 million in mid- to late-stage companies in sectors like consumer, financial services, niche manufacturing, healthcare, and technology.

The firm plans to raise the remaining $150 million from global asset managers, sovereign wealth funds, and Indian financial institutions, aiming for a final close by October.

Motilal Oswal Alternates (MO Alts), the alternative investment arm of Motilal Oswal Financial Services, has raised over ₹1,750 crore ($280 million) for its sixth real estate fund, India Realty Excellence Fund VI (IREF VI).

Molbio Diagnostics recently revealed that Temasek and current investor Motilal Oswal Alternates had each invested $85 million in the business.