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Indian venture capital funds

Top 5 funds raised in 2021 for startups

2021 saw the launch of venture capital funds worth more that $6.3 billion in India and $39 billion worth of investments in startups. Some of the key factors that has shaped the uptick can be attributed to the successful Intitail Public Offerings (IPOs), unicorn valuation, the push for digital transformation during the pandemic,  and the bull run the market sustained for a while. All this acted as a catalyst to bump up VC investments in startups by 225% in 2021 from 2020. And with startups like BYJU’S and Flipkart making headlines even legacy companies like Tata and Reliance are building ‘Super-Apps’ to keep their skin the game. According to an Inc42 article, about $6.2 billion was raised by 62 funds – across funds types (VC, Micro VCs, CVC, Debit) – of which nice were Corporate Venture Capital funds (CVC) and 12 were Micro VCs. 

Here are top 5 funds raised for Indian startups

Dream Capital

Sports tech startup, Dream Sports (parent company of Dream11) made an initial allocation of $250 million to Dream Capital, its venture capital and acquisition wing. Dream Capital is set to invest in fitness-tech, gaming and sports in a multi-level manner with investments raging from $1 million to $100 million.

TVS Capital Funds

In 2021, this Chennai-based private equity firm announced that its fund, TVS Shriram Growth Fund III closed at ~$263 million. Insurance companies and development finance institutions contributed to 26% and 22% respectively. And 45% of these funds are said to have come form 24 family offices with individual offerings to the north of ₹10 crore. The fund has backed by GoDigit , LEAP India and DCB Bank.

A91 Partners

A91 Partners closed its second fund at $550 million in November 2021. The firm has its eyes on about 17 established Indian startups or those with a strong Indian presence in consumer goods and services, financial services, healthcare and technology. The fund was mostly raised by family offirces, Indian entrepreneurs, HNIs and private life insurance companies.

Amazon Smbhav Fund

Amazon India is set to raise $250 million through the Amazon Smbhav Venture Fund to invest in startups that focus on tech-led innovation in agriculture, universal access to healthcare, and digitising Small and Medium Businesses.

Chiratae Ventures

Tech-focused venture capital firm Chiratae Ventures raised $337 million last August. The fund is largely backed by Indian investors that include family offices. Globally, the fund has seen investors from the United States, the United Kingdom, Japan, and Singapore. Chiratae has backed some unicorn-status like FirstCry, Flipkart, Lenskart and Policybazaar. 

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