Investment firm Chiratae Ventures concluded the final closing of its fourth fund at $337 million on Friday, August 6. The Mumbai-based venture capital (VC) firm aims to deploy this capital across approximately 50 companies over the next few years, with plans to seal 15-20 deals annually, spanning from early-stage to later-stage rounds.
Fund IV Overview
Despite facing a delay of over 10 months due to the COVID-19 pandemic, the closure of Chiratae’s Fund IV witnessed oversubscription by 25%. This fund garnered support from esteemed investors such as the International Finance Corporation (IFC), Kris Gopalakrishnan of Infosys, Asian Paints FO, Unilever, ITC, Premji Invest, Nippon, among others.
Chiratae Ventures: A Snapshot
Founded in 2006 by Sudhir Sethi and TC Meenakshisundaram, Chiratae Ventures, formerly known as IDG Ventures India, manages assets worth $950 million and has invested in over 100 companies in India. Notably, its portfolio boasts of successful IPOs like Yatra and Newgen, along with three IPO-bound companies, including PolicyBazaar, an online insurance aggregator that recently filed its preliminary papers with SEBI.
Embracing the IPO Trend
As the Indian startup ecosystem witnesses a surge in IPO activities, Chiratae Ventures anticipates more IPO-bound or listed companies within its portfolio. Sudhir Sethi, the founder and chairperson, highlighted the firm’s strategy, emphasizing their focus on nurturing startups poised for unicorn status while acknowledging the inevitability of failures in the journey. With IPOs emerging as a significant trend, Sudhir Sethi and TC Meenakshisundaram foresee continued growth and opportunities for investors in the evolving landscape of Indian startups.
Future Outlook and Excitement
Reflecting on the current scenario, Karthik Prabhakar, Executive Director, and Partner at Chiratae Ventures expressed optimism, citing the present as an exhilarating period for entrepreneurs and VCs alike. As the startup ecosystem evolves and matures, Chiratae Ventures remains committed to supporting innovative ventures and capitalizing on emerging opportunities in the market.
In conclusion, Chiratae Ventures’ successful fund closure underscores its commitment to fostering entrepreneurship and driving growth in India’s dynamic startup ecosystem. With a robust portfolio and strategic investments, the firm is well-positioned to capitalize on the burgeoning IPO wave and contribute to the evolution of the Indian startup landscape.
Clara Cardoso
Mariana Oliveira
