JM Financial Asset Management garners Rs 700 crore from maiden pre-IPO fund

JM Financial Asset Management has secured Rs 700 crore in its pre-IPO fund's first close. This fund targets businesses expected to list publicly within eighteen months. It received commitments from various investors, including family offices and institutions. The fund will invest sector-agnostically in companies with strong fundamentals and growth prospects. JM Financial Asset Management's AIF division enters the growing pre-IPO investment segment.