mumbai, June 18 -- After closing its maiden private equity fund at Rs.575 crore earlier this year, InCred Alternative Investments is preparing to raise a significantly larger second fund of Rs.1,000-1,500 crore, a top executive told Mint. The firm plans to increase its average deal size and tap a more institutional pool of investors for this fundraise. "We will try to inject larger amounts from the second fund onwards and are targeting an average ticket size of Rs.140-150 crore across 7-8 companies, up from Rs.75-85 crore in the first fund," said Vivek Singla, managing partner at InCred Alternative Investments, told Mint in an interview. The fundraising process will start in the next quarter, though final timelines and fund size will depend on market conditions, he added. InCred's second fund will seek capital from both domestic and international investors, with domestic investors expected to contribute about 75% of the corpus. This marks a slight shift in its limited partner (LP) mix. In the first fund, while domestic investors formed the majority, most international investors were non-resident Indians (NRIs). Roughly 80-85% of the maiden fund came from domestic investors, with the rest from non-resident Indians. So far, InCred has invested in six companies from its first fund: Niva Bupa, Purplle, Manjushree Technopack, Shadowfax, Biryani by Kilo and Celebal Technologies. About 55% of the fund's capital has been deployed, with more deals in the pipeline. The firm's investment strategy focuses on companies with meaningful scale, strong product-market fit, operational profitability and a clear IPO path within 3-4 years. Target sectors include consumer, technology, enterprise and financial services. InCred also looks for valuation discounts relative to listed peers, Singla said. "Given that the fund has a six-year duration, there is only a certain segment of companies that we can invest in. We prefer high-growth companies that are likely to have a liquidity event in the near term," he said....