KV Asia Capital has secured a $100 million first close of its second fund, which has a total target of $300 million. The firm plans to secure a final close of the fund — KV Asia Capital Fund II — by end-2021 or early 2022, sources told DealStreetAsia.
The firm had initially targeted to secure the first close in early 2020, as reported by DealStreetAsia, but it is believed to have run into fundraising challenges amid COVID-19.
KV Asia Capital Fund II is targetting mid-market investments with a ticket size of $20-100 million in sectors like consumer, services, and manufacturing. The sources indicated that KV Asia plans to make 1-2 investments from the new fund before a final close.
