Oister Global Launches INR 500 Cr ACE Fund III

Oister Global, a private markets asset manager, has announced the launch of ACE Fund III, its third secondaries-focused fund, with a target corpus of INR 500 crore, including an INR 250 crore base and an INR 250 crore greenshoe option. 

The move follows strong investor interest in its previous fund, ACE Fund II, which achieved a two-times oversubscription and raised INR 400 crore against its initial target.

The company’s ACE series has steadily gained traction among domestic investors, supported by a growing track record in India’s private markets. Across its first two funds, Oister claims to have invested in several prominent new-age companies such as BlackBuck, Servify, M1xchange, Kuku, and Purplle. These investments reflect a focus on late-stage businesses with established business models and growth potential.

Performance indicators from ACE Fund I highlight the strategy’s early success. Half of its six portfolio companies have already achieved public market outcomes through listings, draft filings, or exits. These companies have recorded an average 32 percent year-on-year revenue growth alongside a 54 percent expansion in margins, signalling improving profitability. Similarly, ACE Fund II has shown early progress, with two portfolio companies witnessing valuation mark-ups in subsequent funding rounds.

Rohit Bhayana, Co-CEO and Co-founder of Oister Global, said, “The performance of Fund I, the oversubscription of Fund II, and the domestic capital we have mobilised are proof points of a thesis that is maturing in real time.” He added that secondaries are gaining importance as “early-stage investors need exits, founders want clean cap tables, and growth-stage companies need credible long-term capital.”

The ACE platform now manages over INR 1,000 crore across its funds, making it one of the larger dedicated secondaries franchises in India. Notably, about 98 percent of the capital raised has come from domestic investors, significantly higher than the broader alternative investment fund industry average. This trend indicates rising confidence among Indian family offices, institutions, and high-net-worth individuals in secondary market opportunities.

Sandeep Sinha, Co-founder and Co-CEO, highlighted the firm’s approach, stating, “A key differentiator for us has been our ‘glass box’ structure, designed to solve three core problems in private markets: opacity, long lock-ins, and delayed DPI.” He added that the firm focuses on shorter-duration opportunities with clearer liquidity pathways.

With ACE Fund III, Oister aims to expand its investments in late-stage secondary deals across high-growth sectors, targeting companies with strong unit economics and clear exit visibility through public listings or strategic transactions.