The funds will be used by Riverwalk Investment Manager to subscribe for unlisted Class E units in Fund II, thereby giving Paramount Investments an additional indirect interest in the first fund.
Alongside Paramount Investment, the co-investors of the Riverwalk Fund will be Karan Singh Thakral, and independent third parties unrelated to the Thakral family.
Riverwalk Fund invests in the securities of fast growing companies to create a highly-qualified diversified portfolio in B2B software solutions & services, fintech, consumer brand & consumer platforms, and application of technology to traditional industries like real estate among others.
The fund is close-ended with a tenure of eight years from the first closing which may be extended by the investment manager by up to two years with the prior consent of two-third majority of contributors.
Thakral says that India presents a compelling investment landscape driven by several factors including a growing working-age population, rising per capita income, fiscal discipline and favourable global trends such as the “China+1” strategy. The joining of Riverwalk’s fund allows the group a broader view of the market and opportunity to participate in these growth sectors.
See also: KSH raises $8.67 million placing out treasury shares at 30.5 cents each
Shares in Thakral closed 5 cents lower or 3.70% down at $1.30 on July 7.
