FirstCry, PolicyBazaar, and Flipkart were all early investments of Chiratae Ventures, which also announced the first closing of its first expansion fund at Rs 759 crore.
The Chiratae Ventures Growth Fund – I (CGF – I) is a fund that only invests in growth-stage technology companies, both inside and outside of its portfolio. The sector-neutral fund intends to support 15–20 businesses.
Chiratae Ventures has just raised its first growth fund. Domestic institutional investors including Infosys co-founder Kris Gopalakrishnan, the Choksi Family Office (promoters of Asian Paints), the State Bank of India, IIFL Wealth & Asset Management, and other family offices are among the fund’s limited partners.
“This is among our quickest fundraising efforts. We are grateful that our performance, strategy, returns, and governance have been recognised by our investors. According to Sudhir Sethi, founder and chairman of Chiratae Ventures, the fund would be concentrated on fostering the expansion of 15-20 technological start-ups at the growth stage.
The investor, who is based in Bengaluru, has so far raised five early-stage funds, and he or she presently oversees $1.1 billion in AUM. The 16-year-old fund has sponsored a number of startups, including Bizongo, Curefit, EarlySalary, Firstcry, GoMechanic, Lenskart, Myntra, PolicyBazaar, Pyxis, Vayana, and Uniphore.