A91 Partners Raises $665 Million for its Third Fund in India
Homegrown venture capital company A91 Partners on April 22 stated it has raised $665 million (more than $5,600 crore) for its current fund, hoping to invest in more startups from India's burgeoning ecosystem. The latest fund is the company's third since it began operations in 2018.
With this recent fundraising, A91 is part of an increasing number of venture capital firms that are raising new funds to commit to the world's third-largest startup ecosystem. Accel, one of the most active investment companies in the world, recently raised a record $650 million (around $5,500 crore) for its eighth India fund.
Whereas some companies, such as Accel, have kept their fund sizes intact, others, including Peak XV Partners, have decided to shrink theirs. A91, however, has increased its fund size slightly from one round to another. The company raised $350 million in its first fund in 2019 and then again a second one of $550 million in 2021.
In a LinkedIn update, the company said, "We launched A91 in 2018 with the conviction that patient capital would have a key role in driving value creation in Indian industries across multiple sectors. We also saw the potential to create a world-class Indian investment firm for founders to create large, lasting businesses out of India."
With this recent fundraising, A91 is part of an increasing number of venture capital firms that are raising new funds to commit to the world's third-largest startup ecosystem. Accel, one of the most active investment companies in the world, recently raised a record $650 million (around $5,500 crore) for its eighth India fund.
Whereas some companies, such as Accel, have kept their fund sizes intact, others, including Peak XV Partners, have decided to shrink theirs. A91, however, has increased its fund size slightly from one round to another. The company raised $350 million in its first fund in 2019 and then again a second one of $550 million in 2021.
In a LinkedIn update, the company said, "We launched A91 in 2018 with the conviction that patient capital would have a key role in driving value creation in Indian industries across multiple sectors. We also saw the potential to create a world-class Indian investment firm for founders to create large, lasting businesses out of India."
