Chiratae Ventures Closes Maiden Growth Fund At 759 Cr


Chiratae Ventures has launched its first growth fund, with a first close of Rs 759 crore and an option to raise an additional Rs 750 crore. It intends to complete the funding by the end of December. It is a homegrown venture capital firm focused on technology.

The fund intends to invest in the growth rounds of leading technology startups both within and outside its portfolio. It is a sector-agnostic fund that aims to invest in 15-20 tech companies in order to support their growth and expansion. According to media reports, it would primarily target startups raising series C stage funding rounds ranging from $5 million to $20 million.

The fund counts domestic institutional investors such as Infosys co-founder Kris Gopalakrishnan’s Family Office, Choksi Family Office (promoters of Asian Paints), SBI and IIFL Wealth & Asset Management and other Family Offices, as well as existing global investors and key LPs.

“This is one of the fastest fundraise we have seen. We are oversubscribed and are looking to close this by the end of the year,” said TC Meenakshi Sundaram, Founder and Vice-Chairman of Chiratae Ventures.

Categories: Other News

Leave a Reply Cancel reply