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Private Equity (PE) firm Singularity Growth has invested approximately Rs 400 crore in five companies, including Lohum, Akshayakalpa, Classic Legend, Qucev, and Edville DC. The PE firm also announced committment of an additional investment in an undisclosed company.

The investments stem from the newly-launched Singularity Growth Opportunities Fund II, which has a total corpus of Rs 2,000 crore. The fund targets emerging growth opportunities across various sectors, including energy transition, consumer, financial services, enterprise software, and manufacturing.

“We are excited to partner with these companies in their growth journey. Each of these investments align closely with our investment outlook, where we aim to leverage our expertise to support their growth trajectories. Portfolio strategy helps us deliver the fund back in a shorter time frame and optimise our capabilities,” said Yash Kela, Founder and Chief Investment Officer of Singularity.

Singularity’s investment approach involves deploying a significant portion of the corpus in growth-stage companies, with allocations for late-stage and early growth-stage companies as well. This strategy aims for faster DPI and return of capital from the fifth year onwards. The fund is planned to draw down capital committed over a 2.5-3 year period.

One of the funding recipients, Akshayakalpa Organic, a Bengaluru-based startup specialising in organic dairy products, had secured $12 million in its Series C funding round, led by A91 Partners in January.

Likewise, Lohum, another startup on Singularity’s portfolio, secured $54 million (Rs 450 crore) in a Series B funding round from Singularity Growth, Baring Private Equity, Cactus Venture Partners, and Venture East, among other new and existing investors in March this year.

In December last year, Mithun Sacheti, who previously sold his stake in Caratlane to Titan, had joined Singularity Growth as a general partner and co-sponsor.