Oman India Joint Investment Fund (OIJIF), backed by the Oman Investment Authority and State Bank of India, has secured a $100 million first close for its third private equity fund, two people with direct knowledge of the matter said.
The mid-market private equity firm is targeting a final close of about $250–300 million over the next year, the people said.
The fundraising reflects continued investor interest in India’s mid-market opportunities, even as global firms adopt a more cautious approach amid geopolitical tensions and tighter exit conditions. Private equity and venture capital firms raised a record $23.2 billion across 123 India-focused funds in 2025, underscoring sustained investor appetite.
The firm has already begun deploying capital from the new fund, writing cheques in the range of $15–25 million, and is actively scouting deals in financial services, healthcare, manufacturing and consumer sectors, the people added.
Emails sent to OIJIF on Thursday remained unanswered till press time.
Investment strategy
Established in 2011, the firm has invested over $330 million across 19 companies through its first two funds. It secured regulatory approval for its third fund last year.
OIJIF’s portfolio includes Stanley Lifestyles, Divgi TorqTransfer Systems, Annapurna Finance, Senco Gold, Prince Pipes, Capital Small Finance Bank and HomeLane.
Backed by the sovereign wealth fund of the Sultanate of Oman and SBI, the firm has leveraged their strategic backing and networks to source investments.
OIJIF has also built a track record of exits, including five IPOs from its second fund, according to its official website.
The firm also strengthened its investment team last year, appointing Satish Chavva as its chief executive officer.
Fundraising wave
The new fundraise comes amid a broader resurgence in private equity and venture capital fundraising in India.
Several firms including Nexus Venture Partners, Fireside Ventures, , ChrysCapital, Stellaris Ventures, India Quotient, Sixth Sense, Elevation Capital, Peak XV, Prime Ventures, Accel, A91 Partners, Cornerstone VC and Bessemer Venture Partners have launched new funds in recent months.
Globally, limited partners have shown growing optimism about India, helping general partners raise a record $23.2 billion across 123 fundraises last year, up from $9.8 billion in 2024.
Deal activity has also remained robust.
India attracted $60.7 billion in 2025 across 1,475 private equity and venture capital transactions, representing an 8% year-on-year increase in deal value and a 9% rise in volume, according to an EY report released earlier this week.
The report noted that growth-stage and startup investments continued to drive deal momentum, pushing deal counts to record highs.
While dealmaking has shown signs of recovery, fundraising strategies are becoming more selective, with investors recalibrating fund sizes and adopting a more measured approach amid valuation corrections and tougher exit conditions.
Recent , tariff wars and broader geopolitical tensions could also dampen dealmaking across both private and public markets this year, industry executives said.