TLDR:
- A91 Partners is raising its largest fund to date, targeting $700-750 Mn
- The fund size increase may lead to larger average investments of $35-40 Mn
A91 Partners, a Mumbai-based investment firm, is in the final stages of raising its largest fund to date at $700-750 Mn. The firm, known for its investments in companies like Digit General Insurance and Sugar Cosmetics, is planning to increase its average investment size from $20-30 Mn to $35-40 Mn for its Fund-III. Founded in 2018 by ex-Sequoia executives, A91 Partners closed its second fund at $550 Mn in 2021. The firm focuses on mid-stage startups in various sectors such as consumer, technology, financial services, and healthcare in India.
The discussions to raise capital by A91 Partners align with other major domestic players like ChrysCapital and Kedaara Capital, who are also preparing to secure fresh funds ranging from $1-2 Bn. Despite delays in technology-focused venture funds, diversified investment firms have attracted significant interest from global sponsors. In 2023, 64 funds were launched, amounting to over $5.6 Bn, showcasing continued interest and growth in the Indian startup ecosystem.
