TLDR:
- Sorin Investments, co-founded by former KKR India head Sanjay Nayar, closes maiden early-stage VC fund at Rs 1,350 crore.
- Investment focus is on Series A and B stages of funding in tech and tech-enabled businesses.
Sorin Investments, led by Sanjay Nayar, has successfully closed its first early-stage venture capital fund at Rs 1,350 crore. The fund aims to invest in startups at the Series A and B stages of funding across various sectors, particularly in the tech and tech-enabled business space. The limited partners (LPs) in the fund include family offices and institutions such as Nayar family office, Banga family office, Munjal family office, Henry Kravis (KKR) family office, and other KKR senior partners, among others.
Chairman Sanjay Nayar expressed gratitude to the LPs for their support and emphasized the bullish outlook on the Indian tech ecosystem driven by high-quality entrepreneurs and increasing tech adoption. Sorin Investments has already made five investments in companies like Uniqus Consultech, Venwiz, and Litestore. The firm has also brought on board Subeer Monga as a partner, who brings valuable experience from ICICI Ventures and Mayfield India.
According to General Partner and co-founder Angad Banga, India’s tech innovation and startup support from the government are key factors driving the country towards becoming the third-largest economy. The successful fundraising by Sorin Investments, amid the ongoing challenges faced by Indian startups in VC funding, indicates a promising future for the sector.
