Mumbai: Amara Partners, a mid-market private equity firm anchored by industry leader Anand Mahindra, has announced the oversubscription of its ₹600 crore base fund, reflecting robust investor confidence in its growth-focused strategy.
In response to strong demand from prominent institutional families across India, Amara has initiated its ₹200 crore green shoe option, expanding its capital base to support India’s next wave of mid-market leaders.
In conjunction with this expansion, Amara Partners has launched the Amara Leadership Circle, a distinguished network of CEOs and senior industry professionals from major Indian and global enterprises.
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Amara Partners: Elite Investor Pool
This elite investor pool is designed to enhance both capital participation and strategic collaboration across portfolio companies.
Focused on mid-sized, promoter-led businesses in critical sectors like manufacturing, healthcare, financial services, and consumer goods, the fund will make 10–12 investments with ticket sizes ranging from $10–15 million, and potential co-investments up to $20 million.
Notably, the firm has already deployed capital in Lumax Auto Technologies and leading fintech Fibe (NBFC), aligning with its thesis of institutionalizing scalable businesses that can go global.
“We are extremely pleased with the oversubscription and strong institutional support,” said Parag Shah, Founder & Managing Partner, Amara Partners. “There is a clear capital gap for mid-sized, promoter-led firms in India. Amara bridges this by bringing a corporate mindset to private equity—focused on institutionalization, governance, and strategic scaling.”
Co-founded by Parag Shah and Piyush Soonee, the Amara team brings over four decades of collective investment experience, having previously managed more than $500 million at Mahindra Partners, delivering $1.5 billion in returns. The duo’s hands-on, operationally focused investment philosophy continues under Amara, offering strategic capital, M&A advisory, and expansion support to portfolio companies.
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Amara Partners’ unique edge lies in embedding seasoned operators from India Inc. into investee companies to drive on-ground efficiencies and unlock long-term value. The firm is further strengthened by a world-class Advisory Board, including Anand Mahindra, Haigreve Khaitan, M M Murugappan, and Rafique Malik.
With its differentiated model and deep operational DNA, Amara Partners is positioned to become a leading force in India’s mid-market private equity ecosystem.
