ChrysCapital closes $2.2 Bn Fund X

ChrysCapital has closed Fund X at $2.2 billion, the largest private equity fund raised by an India-focused firm. 

Fund X is a 60% increase from Fund IX of $1.35 billion, closed in 2022. The firm plans to invest the capital in established companies across consumer, healthcare, financial services, enterprise technology, and industrial sectors.

ChrysCapital has now raised around $8.5 billion across ten private equity funds, a continuation vehicle, and a public markets fund since 1999. It has deployed over $5.5 billion across 110 portfolio companies and realised $7.8 billion across 80 exits with a reported 3.0x ROI. Its past investments include Intas Pharmaceuticals, Mankind Pharma, GeBBS Healthcare, Infogain, NSE, and Awfis.

Fund X added over 30 new global investors, including pension funds, insurers, asset managers, and family offices from Japan, the Middle East, Southeast Asia, Europe, and the US. For the first time, ChrysCapital also raised capital from Indian institutional investors and large family offices. 

The fund reached its final close within six months of its first close.

The firm plans to deploy Fund X over the next 3–4 years and has several transactions in progress. The strategy continues to focus on majority and minority investments in businesses with strong governance, clear growth levers, and defined exit visibility.

ChrysCapital competes with PE firms active in India such as TPG, Bain Capital, KKR, Blackstone, Carlyle, Warburg Pincus, and Multiples.