Neo Asset Management has announced the first close of its ₹2,000 crore private equity vehicle, the Neo Secondaries Fund, raising ₹750 crore from a mix of domestic and international investors. The fund aims to acquire secondary stakes in profitable unlisted Indian companies with clear exit opportunities over a 2–4 year horizon.
The SEBI-registered Category II Alternative Investment Fund (AIF) is part of Neo Asset’s broader strategy to provide liquidity to early investors as funds approach the end of their lifecycle, while enabling late-stage exposure with greater return visibility.
This development follows the first close of Neo’s ₹2,000 crore private credit fund — the Neo Special Credit Opportunities Fund II (NSCOF II) — earlier this year. The fund is targeting a total corpus of ₹5,000 crore, highlighting Neo’s growing presence across the alternative investment space.
The Neo Secondaries Fund has already deployed capital into three high-growth Indian companies:
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Noble Hygiene, a leading disposable hygiene products manufacturer
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Purplle, a beauty and personal care platform
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Fractal Analytics, a Mumbai-based AI firm
In addition, Neo has inked a multi-asset secondary deal with an unnamed Indian venture capital firm, signaling a diversified investment approach.
Neo Asset Management is the India-focused investment arm of Neo Group, a modern wealth and asset management platform backed by Peak XV Partners, MUFG Bank, and New York-based Euclidean Capital. In August 2024, Neo raised ₹400 crore in equity funding from MUFG and Euclidean Capital, with Peak XV Partners also participating, following its earlier $35 million investment in October 2023.
With over ₹10,000 crore in assets under management (AUM) across asset classes, Neo Asset Management is positioning itself as a key player in India’s evolving alternative investments landscape, focusing on stable returns and cash-generative opportunities.
