YourNest Closes Approximately ₹400 Crore Continuation Vehicle Anchored by HDFC AMC Select FOF I

Gurgaon, June 16, 2026: YourNest Venture Capital has announced the final close of YourNest Continuum Fund I, a continuation vehicle with a corpus of approximately ₹400 crore. HDFC AMC Select FOF I has joined as the incoming anchor investor, according to the fund manager. The vehicle is intended to hold selected mature portfolio assets beyond the time horizon of the earlier funds in which they were held.

The announcement also reports the formal closure of YourNest’s ₹83.4 crore, 2012-vintage first fund, with final distributed-to-paid-in capital of 3.3 times. These are separate developments: the new continuation vehicle’s corpus is not the amount distributed by the original fund, and the original fund’s reported performance is not a promised return from the new vehicle.

Extending the holding period for selected assets

YourNest describes Continuum Fund I as a specialised secondaries vehicle. Its purpose is to transfer selected assets approaching the end of traditional fixed-term fund lifecycles into a fresh framework with a longer investment horizon. The release names businesses including Miko, Dozee, Thriwe, Opkey, Twid and Exponent Energy in describing the portfolio.

The manager’s stated rationale is that deeptech companies can require extended development and commercialisation periods. It argues that a fund’s fixed term should not necessarily force the sale of a promising business before its longer-term opportunity has developed. That is an investment thesis, rather than evidence that every retained asset will achieve a particular outcome.

The vehicle also offers a liquidity route for existing limited partners while allowing some investors to continue their exposure. YourNest says a significant number of its existing investors are rolling over their stakes, alongside new family-office and individual participants. It does not disclose the precise proportion sold, rolled over or newly subscribed.

Anchor investor and pricing process

HDFC AMC Select FOF I is identified as the incoming anchor. YourNest presents the participation as part of an institutional pricing process for the transferred assets. The release does not provide the valuation of each company, the transaction price for each holding or the full terms of the transfer.

Those details matter because a continuation transaction connects an older fund’s assets with a new investment vehicle. The announcement describes the pricing as independent and transparent, but does not attach the underlying valuation reports or provide a complete conflict-management framework. That description remains attributed to the manager.

The release also refers to NIIF’s role as anchor in YourNest’s flagship Fund III in 2021. That is background about another fund and should not be confused with the anchor commitment to Continuum Fund I. Different institutional relationships are described across the manager’s platform, not as one combined commitment to the new vehicle.

Reported performance metrics have different scopes

YourNest reports multiple-on-invested-capital figures of 11.8 times across three assets from Fund I and 10.7 times across five assets from Fund II in connection with the transfer. These are selected-asset figures. They should not be presented as the performance of every holding or as a realised return for all investors in the corresponding funds.

The release separately describes the first fund’s overall MOIC as 4.3 times and its final DPI as 3.3 times. The two measures are not interchangeable: the announcement itself uses them for different aspects of performance. It does not provide a detailed cash-flow schedule, fee reconciliation or investor-by-investor return calculation in the supplied material.

Nor does it report a target return for Continuum Fund I that can be inferred from those historical figures. Past asset performance is context for the transaction, not a guarantee about the value or timing of future distributions. The approximately ₹400 crore corpus describes the vehicle’s scale, rather than a profit amount.

Management frames the move as patient capital

Sunil Goyal, Managing Director and Fund Manager at YourNest Venture Capital, said the firm wanted to support founders and investors through a longer capital horizon while prioritising liquidity for partners who had remained invested for more than a decade. He described the new vehicle as part of a broader ambition for patient capital in deeptech.

The manager says the structure enables continued operational support, advisory involvement and governance oversight. Those activities are part of its described investment approach. The release does not quantify the additional capital available to each company or identify a schedule of follow-on financing from the continuation vehicle.

YourNest also describes the fund as oversubscribed, without providing the original target corpus or the amount of excess demand. The term therefore indicates the manager’s account of fundraising interest but does not allow a precise oversubscription ratio to be calculated from the announcement.

Company background and next disclosures

Established in 2011, YourNest describes itself as a technology-focused pre-Series A fund house investing in deeptech and intellectual-property-led product businesses. It says two other funds remain active following the first fund’s closure. Its wider institutional relationships include NIIF, HDFC AMC Select FOF I, SIDBI, Canbank and Max Life Insurance, according to the release.

The announcement does not supply the new vehicle’s term, management fees, carried-interest structure or minimum commitment. It also does not identify a fixed timetable for exits from the transferred assets. Those details would be needed for a complete assessment of the structure, beyond the headline closing amount and the portfolio rationale.

The immediate development is the final close of the continuation vehicle and the disclosed anchor relationship, alongside the closure metrics for the original fund. Future reporting can examine the assets’ progress, subsequent transactions and actual distributions. Keeping those outcomes separate from the current close allows the announcement to be assessed without turning the manager’s ambitions into completed results.

The transaction’s stated objective is to avoid timing pressure from older fund structures, but the announcement does not remove the risks inherent in holding private-company assets. It does not establish a guaranteed exit price, a fixed liquidity date or an assured route to global scale. Those outcomes remain dependent on later business and market developments.

The six companies named in the overview are examples in the release, while the performance statement refers to eight transferred assets across two funds. The supplied text does not fully reconcile those lists, so no additional company names have been inferred.