Thakral commits $6.3m to Riverwalk Fund II in India

PIPL will subscribe ₹420m for Class B units in Riverwalk Fund II, an Indian-domiciled, SEBI-registered Category II Alternative Investment Fund (AIF).

Thakral Corporation Ltd has committed approximately $6.3m (₹425m) to deepen its presence in India’s private investment landscape, as announced in a regulatory filing.

The investment will be made through Paramount Investments Pte. Ltd. (PIPL), Thakral’s wholly-owned subsidiary. PIPL will subscribe $6.3m (₹420m) for Class B units in Riverwalk Fund II, an Indian-domiciled, SEBI-registered Category II Alternative Investment Fund (AIF).

In addition, it will invest $74,604 (₹5m) to acquire a 10% stake in Riverwalk Investment Manager LLP (Manager II), the fund’s sponsor and manager.

Riverwalk Fund II targets high-growth sectors including B2B software, fintech, consumer platforms, and technology-led transformation in traditional industries such as real estate and manufacturing. The fund aims to raise around $62.7m (₹4.2b) in total capital commitments.

Thakral's investment is structured as an Interested Person Transaction under Chapter 9 of the SGX Listing Manual, as the fund and manager involve related entities, including Tegh Pte. Ltd. (majority-owned by the Thakral family) and Mr. Karan Singh Thakral, a deemed controlling shareholder.

The total transaction value represents approximately 3.9% of Thakral’s net tangible assets and does not require shareholder approval.

Thakral will fund the investment from internal resources. Class B units held by PIPL will not be subject to carried interest, and no management fees will apply to the indirect Class E units held via Manager II.