Samara Capital, an India-focused private equity firm and a local partner of Amazon.com Inc., is planning to raise as much as $500 million for a new fund targeting companies in Asia’s third-biggest economy.
Samara is seeking to step up investments in a consumer market of a billion-plus people. Almost 120 companies, including online grocers to food delivery and beauty startups, raised about $18 billion in initial public offerings last year, a record for the country.
Founded in 2007, the firm has invested more than $1 billion since inception, according to its website. The new fund will consider investing $50 million to as high as $400 million in mid-market companies for a controlling stake, Narang said.
Samara and Amazon are partners in Witzig Advisory Services Pvt., an investment vehicle that acquired More Retail Pvt. in 2019 from billionaire Kumar Mangalam Birla’s conglomerate Aditya Birla Group. More Retail is weighing an IPO that could raise as much as $500 million at a valuation of $5 billion, Bloomberg News reported in December.
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