ChrysCapital injects $700 Million to maintain stake in NSE

2 May 2024 , 11:03 AM

ChrysCapital, a renowned India-focused private equity company, announced on Tuesday the closure of a $700 Million continuation fund. The continuation fund is led by HarbourVest Partners, LGT Capital Partners, and Pantheon Ventures (“Continuation Fund”).

ChrysCapital VI, LLC sold its investment in the National Stock Exchange to the newly closed continuation fund. ChrysCapital Fund VI first invested in NSE in 2016 and will remain a key, long-term shareholder in the company via the continuation fund.

The agreement enabled Fund VI investors to monetize the performance of a highly successful investment, while continuation fund participants were able to invest in India’s biggest stock exchange and the world’s largest derivatives exchange. As part of the deal, Fund VI investors were given the option to roll their money into the continuation fund.

The deal was oversubscribed, making it the largest of its kind in India and one of the largest in the Asia Pacific region.

HarbourVest Partners and LGT Capital Partners oversaw the continuation fund’s structure. ChrysCapital’s exclusive financial advisor was UBS Private Funds Group. Cooley LLP advised ChrysCapital, while Kirkland & Ellis LLP represented HarbourVest Partners and LGT Capital Partners.

The NSE was the trailblazer in India, initiating electronic trading in 1994. It led the way in technology adoption, emphasizing innovation and continual investment to maintain the dependability and efficiency of its systems.

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