May 03, 2023
Chiratae Ventures has a successful track record of investing in early and growth-stage startups over the past 16 years. The Chiratae Funds collectively (across 6 funds) have $1.1 Bn in AUM, 130+ investments, 48 exits, 8 Unicorns, 3 IPOs and a track record of having returned capital to the investors in each of the last 12 years. Chiratae Ventures has been an early backer of technology-led companies such as Bizongo, Curefit, Fibe, Firstcry, Lenskart, Myntra, PolicyBazaar, Pixis, Vayana, and Uniphore, amongst others.
Sudhir Sethi, Founder and Chairman of Chiratae Ventures, said,
“We are excited to have raised our first Growth Fund, enabling us to continue supporting the growth and expansion of market-leading technology startups in India and beyond. The oversubscription of the fund by 34% is a testament to the trust and confidence our investors have placed in us. As we embark on this exciting new chapter, we remain committed to identifying and investing in innovative startups that have the potential to drive transformative change and create long-term value. Thank you to our existing investors Pratithi (Family Office of Kris Gopalakrishnan, the Co-Founder of Infosys), 57 Stars (a global alternative asset manager) and Manish Choksi (Vice Chairman and non-executive board member of Asian Paints) and his Family Office and, we welcome the new ones, State Bank of India, IIFL, Axis Bank and others.”
“The successful fundraising for Chiratae’s First Growth Fund is a testament to the quality of the investment strategy and our team’s ability to identify and support exceptional entrepreneurs. With the Growth Fund -I, we are well-positioned to continue to support promising startups through their growth journey and create value for all stakeholders by becoming market leaders. We thank all our investors for their continued support to Chiratae.”