Oister Global, a secondaries focused fund that has invested in startups such as BlackBuck, Servify, M1xchange, Kuku and Purplle has launched ACE Fund III, its third dedicated secondaries investment vehicle, with a target corpus of Rs 500 crore, including a Rs 250 crore greenshoe option.
In a statement, Oister Global said the launch follows the strong response to ACE Fund II, which was oversubscribed two times and raised Rs 400 crore against its initial target, underscoring rising investor appetite for secondary investments in India's fast-growing private markets ecosystem.
With the launch of ACE Fund III, the total capital committed across the ACE franchise has crossed Rs 1,000 crore. The company said the move reflects the growing maturity of India's secondary market, which is increasingly being viewed as a structured, return-oriented asset class rather than merely a liquidity mechanism.
According to the company, half of ACE Fund I's portfolio companies have already achieved public market outcomes through listings, DRHP filings or exits. The fund's portfolio companies have also reported 32% year-on-year revenue growth and 54% expansion in margins.
Oister said India's private markets continue to face a structural liquidity gap, where founders and early investors seek exit opportunities while institutional and sophisticated investors look for exposure to proven late-stage businesses. The firm estimates that India's annual secondary opportunity could reach as much as $20 billion, driven by increasing demand for liquidity and growth capital.
Rohit Bhayana, Co-Founder and Co-CEO of Oister Global, said the ACE platform has demonstrated that secondaries are becoming an institutional-grade strategy in India. He noted that increasing demand from founders, early investors and growth-stage companies is creating strong long-term tailwinds for the segment.
The company also highlighted that nearly 98% of the capital raised across the ACE series has come from domestic investors, significantly higher than the broader alternative investment funds industry average. ACE Fund III will continue focusing on late-stage secondary opportunities in high-growth sectors with clear pathways to liquidity through IPOs, strategic exits and future fundraising rounds.