TSP C Fund raises $1.9B through US IPO

The US-listed ETF TSPC Fund has raised US$1.5 billion through a $1 billion US Series C (TSP) on Monday, according to data from Morningstar.

The funds first floated on the New York Stock Exchange (NYSE) in July last year and the fund was initially worth $6 billion before the listing.

The fund has now raised $1,638 million through its Series C funding round, up from $1 million last week.

The fund had initially raised $500 million at the start of the day.

The firm has a $30 billion market cap and currently has a valuation of $1 trillion.

The US-registered fund is the latest fund to take a step into India’s private equity market.

The first fund, TSPFunds India, launched in September 2016, and the second fund, the Fund for Equity Partners, was launched in November 2016.