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A91 Partners Closed Massive Funding At $665 Million
A91 Partners has secured $665 million in its impressive funding III for their homegrown investment firm. It was backed by companies like Blue Tokai Coffee, Atomberg, Paper Boat, and Rare Rabbit, who helped the startup in making the investor’s largest ever fund since its launch in 2018. Considering it is one of the fastest scaleups in terms of fund size for a commercial investment firm.
Summary:
1. A91 Partners, a Mumbai-based investment firm, has secured $665 million in its funding III, marking one of the fastest scaleups in terms of fund size for a commercial investment firm.
2. The fund was supported by prominent investors, including the International Finance Corporation (IFC), which invested $25 million in it. A91 Partners joins a growing list of investment companies, including Accel, Prime Ventures, Stellaris Ventures, and Bessemer Ventures, that have recently raised capital.
3. A91 Partners has made partial exits from Atomberg, Pushp, Sugar Cosmetics, software firm Exotel, pharmaceutical company La Renon, and silver jewelry startup Giva.
Later, spitting from Sequoia Capital India, now (peak XV Partners), a Mumbai-based firm, had secured $350 million from the first round of funding.
A91 Partners, a homegrown investment firm founded by Founded by former Sequoia India managing partners Abhay Pandey, VT Bharadwaj and Gautam Mago is currently focusing on investing in companies across different verticals like technology, consumer, and financial services.
They say- “We started the A91 firm in 20218 with the following goals- the patient capital will play an important role in boosting value creation in Indian startups across different sectors. They considered this a chance to establish a world-class Indian Investment firm for founders who want to build huge ,abiding businesses from India. All these ideas have made them consistent and strong for six years.
What do A91 Partners do?
A91 Partners, which secured startup funding, founded in 2018, is a Mumbai-based investment business that focuses on consumer goods, retail, financial services, leisure, technology, and healthcare sectors in India. It is owned by Abhay Pandey, VT Bharadwaj, and Gautam Mago.
They are business builders who have invested more than USD 234 billion in private market opportunities on behalf of their clients worldwide.
“We are grateful to both our investors and the founders who have worked with us and continue to inspire and teach us. We began… with the premise that patient capital would play a key role in accelerating value creation in Indian enterprises across sectors,” the investment firm stated in a LinkedIn post.
The startup funding is being launched nearly four years after raising $550 million for its second fund to invest in 15-17 startups. The fund was supported by several prominent investors, including the International Finance Corporation (IFC), the World Bank’s private-sector investment arm, which invested $25 million in it. The initial fund was raised in 2019 for approximately $351 million.
A91 Partners joins a growing list of investment companies, including Accel, Prime Ventures, Stellaris Ventures, and Bessemer Ventures, that have recently raised capital. India Quotient is also looking to raise its largest-ever fund of $130 million, the company informed Mint in February.
Some VC companies, however, have no plan to grow the corpus for their upcoming funds. Blume Ventures, which will also go to the market to raise funding, plans to keep the venture capital around $290 million for the next two rounds. Peak XV, on the other hand, cut $465 million from its $2.85 billion India and Southeast Asia fund last year to lower its cost of capital.
A91’s partial exits include those from Atomberg, an energy-efficient small appliance business, in a round led by Temasek and Steadview Capital, and Pushp, a spice maker, in which Nikhil Vora’s Sixth Sense Venture acquired a secondary position from the fund. Sugar Cosmetics, software firm Exotel, pharmaceutical company La Renon, and silver jewelry startup Giva are among the other major investments. Digit Insurance, one of its portfolio companies, became public in May of last year.
