Singularity was established in 2015 by Yash Kela and Madhu Kela, aiming to serve as a value-driven, operator-focused investor for visionary entrepreneurs dedicated to building exceptional companies. The firm has assembled a robust senior team that combines expertise in public markets, private equity, and operational management.
Fund Snapshot
Parameters | Details |
Category | SEBI registered Category II AIF |
Allocation | Primary Investments ~40%-50% Coinvestment & Secondaries – Upto 60% |
Tenure* | 10 years (extendable by 1+1 years) |
Fund Size | INR 400 Cr+ 100 Cr green-shoe |
Placement Fee | Up to 2% |
Annual Management Fee** | 2% pa |
Performance Fee/Hurdle Rate | 20% with catchup /10% p.a Pre-tax |
Drawdown Schedule | Initial Drawdown: 20% Subsequent drawdown: 10-20% every 4-6 months |
Sponsor Commitment | INR 60 Cr |
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About Fund Manager
Madhu Kela
Madhu Kela is a prominent public market investor in India, having invested public funds for over three decades. Previously, he served as the Chief Investment Strategist at Reliance Capital, a leading asset management company in India, where he oversaw a flagship scheme that achieved a CAGR of 28%, significantly outperforming the S&P BSE 100 benchmark, which recorded a 15% CAGR, marking it as one of the most successful in India’s investment history.
Yash Kela
Yash Kela, the Founder and Chief Investment Officer at Singularity, brings a deep passion and extensive experience in identifying growth capital opportunities, particularly as India transitions from a $4 trillion to a $10 trillion economy. He has been mentored by some of India’s top industrialists across various sectors, including financial services, retail, and FMCG.
Investment Strategy
SFOF II is a specialized fund designed to invest in top-tier funds and secondary opportunities, ensuring robust, risk-adjusted returns. Our strategy focuses on:
SFOF I is tracking a pre-carry IRR of 20.3% with a TVPI of 1.7x
No Double Dip on Fees – No additional management fees or carry charges, ensuring a cost-effective investment structure
The weighted average tenure of the portfolio is significantly lower than the standard 10-year fund lifecycle, with regular inflows generated from exits made by daughter funds
Investment Thesis
Investing in funds with strong pedigree, vintage, and a proven track record
1. Acquiring secondary interests in mature, high-quality PE/VC funds and companies
2. Diversified exposure across key sectors: Consumer, Financial Services, Healthcare, Industrials, Energy Transition, and Enterprise Tech
Why Singularity Funds of Funds II?
Singularity Fund of Funds II (SFOF II) is a meticulously structured investment vehicle designed to provide access to top-tier private equity and venture capital funds. With a strategic focus on high-quality, diversified investments, SFOF II is built for investors seeking superior risk-adjusted returns.
Portfolio Highlights: Servify, Qucev, Lohum, Bombay Shirt Company
Fund Overview
Singularity SFoF II is a CAT II AIF a secondary led FoF, that will invest in other PE/VC funds, direct companies, and PE/VC companies. 40% – 60% investments into secondaries and co-investments. 40% – 50% into primary funds.
SFoF II is a multi-strategy. fund diversified access to secondary market, primary market & co-investment rights.
SFoF II is a value-oriented fund focused on Manager Quality & Focused on acquiring assets at a discount to intrinsic value, reducing or eliminating the J- Curve.
SFoF II offers simplified access to managers who are difficult to reach, sharp-tenured, and early exits.
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