Siguler Guff raises $500 mn for India mid-market private equity strategy

Siguler Guff has raised $500 million through its latest fund, co-investment vehicles and separately managed accounts to invest in India's mid-market founder- and family-owned businesses.

The New York-headquartered private markets investment firm has around $18.4 billion in assets under management as of December 31, 2025.

The firm said the capital was raised through the final close of its Global Emerging Markets Growth Opportunities Fund (GEMGO II), alongside related co-investment vehicles and separately managed accounts.


Together, the vehicles represent $500 million of capital commitments for the GEMGO strategy, Siguler Guff said.

"The Fund will seek to continue investing in high-growth, founder and family-owned businesses with average investment sizes of approximately USD 50 million, focusing on companies that can benefit from India's domestic consumption growth and those serving global demand across consumer, healthcare, financial services and technology. GEMGO II will also continue to offer co-investment opportunities to its investors," the firm said.

The fund will focus on companies benefiting from India's domestic consumption growth as well as businesses serving global demand across consumer, healthcare, financial services and technology.

Drew Guff, Chief Investment Officer of Siguler Guff and Co-Portfolio Manager of GEMGO II, said India remains a long-term investment opportunity, supported by demographic trends, rising consumption and a dynamic business environment.

Siguler Guff has invested around $1 billion in India across its emerging markets vehicles so far, with investments in 23 companies, including Indian Energy Exchange, GlobalLogic, City Union Bank, Luker Electric Technologies, Baazar Kolkata and Sterling Hospitals.

The firm said its India strategy is focused on partnering with founder-led and family-owned businesses during key stages of growth.

"India's mid-market continues to offer an attractive opportunity to partner with founder-led and family-owned businesses at a pivotal stage of growth.

"Our approach combines growth capital with strategic and operational support to help management teams strengthen governance, build institutional capabilities and scale their businesses over the long term," said Shaun Khubchandani, Partner at Siguler Guff and Co-Portfolio Manager of GEMGO II.

Siguler Guff has already started deploying capital from the new fund through investments in food service operator Trimex Foods, IPL cricket team Rajasthan Royals, AI-native consulting firm Valliance.ai and domestic formulations company La Renon.

The investments reflect the firm's focus on founder- and promoter-owned businesses serving India's domestic economy and global markets.

(With PTI inputs)