Mid-market growth and buyout private equity fund research profile
True North Fund V is an India-focused mid-market private-equity vehicle with fund-level disclosures and a named portfolio across healthcare, financial services, technology and consumer businesses. The record keeps the Fund V vintage distinct from True North’s later vehicles and broader manager page.
At a glance
Research profile
Open a section to inspect the evidence. The first view starts with the investment point of view; the rest stays quiet until you need it.
Investment lens
True North Fund V uses a mid-market growth and buyout private equity approach across Healthcare, financial services, technology, consumer.
Current evidence
True North’s FY2025–26 and FY2024–25 Fund V stewardship disclosures remain current, while the manager’s 2024 ESG report provides Fund V-level size and outcome statistics. Its current partner-company directory continues to identify Fund V portfolio companies and exits.
Strategy
Mid-market growth and buyout private equity
Sector focus
Healthcare, financial services, technology, consumer
AIF structure context
Indian private equity, growth, buyout and many real-asset strategies are commonly structured as Category II AIFs. Verify the specific vehicle and registration before investing.
Current signal
True North’s FY2025–26 and FY2024–25 Fund V stewardship disclosures remain current, while the manager’s 2024 ESG report provides Fund V-level size and outcome statistics. Its current partner-company directory continues to identify Fund V portfolio companies and exits.
Investor questions
True North Fund V is covered in Rupeia's private equity research universe. The current public record describes the strategy as Mid-market growth and buyout private equity, with a sector focus of Healthcare, financial services, technology, consumer. The profile should be read with the linked source trail and Typical route: Category II AIF context.
The profile displays only company or asset names attributable to True North Fund V in the reviewed public sources: Accion Labs; Atria Convergence Technologies; Anthem Biosciences; Biocon Biologics; Cloudnine; HomeFirst; Niva Bupa; NSE. It does not represent a complete current portfolio unless the manager has published one.
True North’s 2024 ESG report records five full exits and five partial exits for Fund V. Current Fund V stewardship and company disclosures provide attributable portfolio evidence; vehicle-level net IRR, DPI and TVPI are not publicly disclosed. These signals are not a substitute for fund- and vintage-specific net performance, realised distributions and audited or administrator-supported reporting.
Public fund size: Approximately ₹4,432 crore fund size reported in True North’s 2024 ESG fund statistics; current NAV and remaining investable capital are not publicly disclosed.. Public terms or access information: Closed-end India-focused private-equity fund with public materials describing a five-year commitment period and typical 4–6 year holding periods. Complete fees, carry, hurdle and reserve terms are not disclosed.. Current fees, minimum commitment and availability must be confirmed for the exact named vehicle in its fund documents.
The current source record names Vishal Nevatia (Managing Partner); Divya Sehgal (Partner); Srikrishna Dwaram (Partner); Satish Chander (Partner). Verify current roles, departures, attribution and key-person provisions before relying on the team history for a new commitment.
Review entry valuation, leverage, governance rights, concentration, execution of the value-creation plan and exit timing. The current open diligence point is: Fund V’s current remaining deployment, fees, carry, reserve policy and audited net returns are not publicly disclosed. The named companies are retained from the manager’s Fund V stewardship and partner-company disclosures; the record does not import Fund VI or Fund VII positions..
2026-03-31: True North’s FY2025–26 and FY2024–25 Fund V stewardship disclosures remain current, while the manager’s 2024 ESG report provides Fund V-level size and outcome statistics. Its current partner-company directory continues to identify Fund V portfolio companies and exits.
Next step
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