Bengaluru, 06 August 2021: Chiratae Ventures announced the closing of its fourth fund at $337 Mn oversubscribed by 25%.
Chiratae Ventures is backed by marquee global and Indian investors. Over half of Fund IV is from Indian investors including Family Offices and industrial families from India. Global investors include those from the US, UK, Europe, Japan and Singapore. Chiratae Venture Funds are ESG compliant.
With a cumulative AUM of approximately $ 950 Mn Chiratae Ventures has invested in more than 100 deals since its inception in 2006, delivered 2 IPOs, 4 unicorns while completing 38 exits with a record 8 consecutive years of capital distributions to investors. CloudCherry, Flipkart, Manthan, Myntra, Newgen, PlaySimple, and Xpressbees are some of the portfolio companies that have been fully exited. Today 40% of the early-stage Tech VC’s portfolio has scaled globally to more than 35 countries. Chiratae Portfolio has filed a total of 120+ patents, with 27 of these granted.
Commenting on the Fund close “We are pleased to continue to back stellar Indian entrepreneurs in technology startups assisting them to grow to dominant leaders in India and globally. It is a testimony to the startup ecosystem in India and high-quality tech entrepreneurs. We have the backing of Marquee Global and Indian Investors repeatedly. Chiratae has delivered stellar exits including a recent 43X return from PlaySimple”, said Sudhir Sethi, Founder and Chairman, Chiratae Ventures
Chiratae Ventures has backed homegrown unicorns such as FirstCry, Flipkart, Lenskart, and Policybazaar. PolicyBazaar just filed its DRHP. Its portfolio also includes Tech leaders such as Agrostar, Bizongo, Bounce, Cropin, Curefit, Emotix, GoMechanic, HealthifyMe, PlayShifu, Pyxis, Uniphore, and Vayana, among others.
TC Meenakshisundaram, Founder and MD, Chiratae Ventures, added “We are seeing over 3000 new companies every year. This number will increase further as India grows to a $ 5 Trillion economy. Indian Insurance companies have also now backed us which is a game-changer for us”
In addition to capital, Chiratae also offers its portfolio businesses access to the expertise and insights from the team and from its Global Advisory Board. Chiratae Venture’s Global Advisory Board has Mr. Ratan Tata – Chairman Emeritus of Tata Sons, Mr. Kris Gopalakrishnan – Co-founder of Infosys, Mr. Bruno E. Raschle – Founder and Non-Executive Vice Chairman of Schroder Adveq, Mr. Manish Choksi – Non-Executive Vice Chairman of Asian Paints and Dr. Andreas Hettich, Chair, Hettich Group Advisory Board and Dr. Ferzaan Engineer – Co-founder and Chairman of Cytecare Hospitals from the India Advisory Council of Chiratae. Chiratae Ventures
India leadership team includes Sudhir Sethi – Founder & Chairman and TC Meenakshisundaram – Founder & MD as well as partners Karthik Prabhakar, Karan Mohla, Venkatesh Peddi, Ranjith Menon, and Swaminathan Shankar – Chief Financial Officer.
Chiratae continues to focus on investing in startups with technology at the core, irrespective of end-use applications such as but not only limited to Consumer Tech, Enterprise Tech/SaaS, FinTech, Health-Tech, Deep-Tech, Ed-Tech, Agri-Tech, etc.
About Chiratae Ventures
Launched in 2006, Chiratae Ventures India Advisors (formerly IDG Ventures India) is India’s leading technology Venture Capital funds advisor. The funds advised by Chiratae Ventures India Advisors collectively $ 950 Million under management and 100+ investee companies across Consumer Media & Tech, Cloud/Software, Health- tech, and Fin-tech. Notable portfolio companies include Bounce, Cure.fit, FirstCry, Flipkart, GoMechanic, Lenskart, Manthan, Myntra (acquired by Flipkart), Newgen (NSE: NEWGEN), PlaySimple, PolicyBazaar, and Uniphore among others. To date, the fund has recorded 2 IPOs, 38 exits, and 4 Unicorns.