Mumbai, May 12 -- Evolvence India is gearing up to raise its fifth fund, targeting a corpus of $300 million, including $100 million from Indian investors, according to managing partner Ajit Kumar.

The firm also has the option to expand the fund size through a green shoe provision, marking a strategic shift as Evolvence actively courts domestic investors amid evolving global funding dynamics, Kumar said in an interview with Mint.

"In the past, we raised capital from investors in the US, Europe and the Middle East and now we are also considering a domestic tranche," Kumar said, adding that the firm plans to raise about $100 million from Indian investors, with the remaining coming from international limited partners (LPs).

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