ABOUT US

Motilal Oswal and Raamdeo Agrawal, founders of Motilal Oswal Financial Services Limited (MOFSL), built a successful financial services business based on the core principles of knowledge and long-term investing philosophy. MOFSL owes the success of its stock broking business to the partnership-led business model, which has unleashed the entrepreneurial spirit in its most admired franchisee network.

The two partners visualised that small and mid-cap companies would be significant beneficiaries of India’s rapidly unraveling growth story. They realised that the private equity business will facilitate risk capital to such firms and will allow them to share their experience of building MOFSL to mentor budding entrepreneurs in shaping their business dreams. Motilal Oswal Private Equity (MOPE) was thus founded in 2006 with the vision of partnering high potential mid-market companies.

Vishal Tulsyan came on board as the founding CEO. Under his leadership, MOPE cumulatively manages close to US$ 900 million and has raised four growth capital funds [India Business Excellence Fund-I (IBEF-I), India Business Excellence Fund-II (IBEF-II) and India Business Excellence Fund-III (IBEF-III)] and four real estate funds [India Realty Excellence Fund (IREF), India Realty Excellence Fund II (IREF II), India Realty Excellence Fund III (IREF III)] and India Realty Excellence Fund IV (IREF IV)] to invest in real estate projects across India.

About MOPE

MOPE Investment Advisors Private Limited (“MOPE”) was started in February 2006 with a vision to emerge as preferred alternative equity investment platform in the mid-market space. It was sponsored by Motilal Oswal Financial Services Limited (“MOFSL”) a highly regarded investment house. MOPE was started in the backdrop of the structural transformation of Indian economy which presented huge opportunity for scaling of alternative investments in India.


  • Managing and/or advising three growth capital funds
    • India Business Excellence Fund ("IBEF"), currently in divestment mode
      Size Vintage Year #Investment
      $115 mn growth capital fund 2007 13
    • India Business Excellence Fund II (“IBEF-II”), fully committed
      Size Vintage Year #Investment
      $155 mn growth capital fund 2012 11
    • India Business Excellence Fund-III ("IBEF-III"), currently in investment mode
      Size Vintage Year #Investment
      $320 mn growth capital fund 2017 4

In addition, Motilal Oswal also manages more than US$ 300 million through three Real Estate Funds: Motilal Oswal Real Estate (MORE)

Genesis of MOPE

Motilal Oswal Private Equity (MOPE) was founded in 2006 to put the investment philosophy and acumen of Motilal Oswal Financial Services (MOFSL) into action.

From the outset, MOPE’s focus was the mid-market segment, where there was an acute need of capital, and where the MOFSL brand had significant leverage.

  • Large Pool of entrepreneurial talent

    India has large pool of entrepreneurial talent corporate transformation enabling value accretion

  • Proven business model-capital for scale-up

    Regional/product success needs growth capital for expansion in new geographies and products

  • Avenues for capital of growth

    Debt financing and terms there of have limitation public markets only for sizeable companies

  • Opportunities in both listed and unlisted companies

    Pre-mature listing large proportion of companies still unlisted

Growth capital opportunity in mid-market segment in India

  • Equity Focus

    Equity focused-investment mindset Clarity in approach and

  • Experience

    Three decades of investing experience. Experience managing public money identified multiple

  • Capabilities

    Reputed brand Pan-India network Research capabilities institutional framework

Investment Approach

MOPE has developed its investment strategy by taking into consideration the structural shift in the Indian economy to a $4- $5 tn economy in next five years resulting in significant opportunities for various sectors.

  1. Investments in Mid-Market Enterprises

    Mid-market enterprises are the growth engines of the economy filling crucial gaps in various industries and geographies. Vast majority of them are family owned and operate on the strength of their local knowledge. Many of these mid-market enterprises aim to transform into a large institutionalized organization. However, this is restricted by ease of access to capital, talent and mentorship.

  2. Focus on Growth Capital

    MOPE prefers to enter as a substantial minority shareholder in companies exhibiting superior growth. Growth capital minority investments allow MOPE to add value to business.

  3. Focus on Preferred Sectors

    The four primary target industry clusters are:.

    • CONSUMER
    • FINANCIAL SERVICES
    • LIFE SCIENCE
    • INDUSTRIAL

MOFSL’s co-founder Raamdeo Agrawal has been conducting annual wealth creation studies since 20 years which has led to unique investment framework Quality, Growth, Longevity and Price (QGLP).

The Team will continuously evaluate target companies in these sectors to ensure that they fit in the QGLP framework. Given the expected holding period of four to five years, the Fund will invest in industries where there is potential during the investment period for significant growth and where sizeable investments are contemplated. The potential for interest in the industry from larger established business groups and multinationals is also carefully evaluated to determine the potential for consolidation in the industry in the next few years.