Singularity Growth, a private equity platform, has successfully completed the initial round of funding for its Singularity Growth Opportunities Fund-II, securing Rs 500 crore out of the total Rs 1,500 crore fund size. Singularity Growth had introduced its first fund in 2021, successfully closing it at Rs 560 crore in March 2023. Notable investments from Fund-I included companies such as All-Cargo Logistics, Jana Small Finance Bank, and Samhi Hotels, among others.

Chaudhry family, the promoter family of Aakash, which holds about 18 percent of the company's shares, will continue to hold around 8.5 percent in the tutoring unit and receive about 1 percent of Think & Learn Pvt.'s shares at less than half of its previous $22 billion valuation, post-transaction.

To achieve this goal, the company intends to form strategic alliances with several prominent banks and financial institutions.In an interview with CNBC-TV18, Manish Kumar, the Founder & CEO of KredX, expressed their aspiration to disburse this fund by the end of 2023.

Tap Invest seeks to strengthen their internal operations, with a particular emphasis on enhancing risk monitoring capabilities, says co-founder Nishchay Nath.