Indian VC firm Chiratae Ventures secured
$122.5M (INR 1001 crore)
in capital commitments toward its first growth fund, CGF-1.
The fund closed 34% above its target of ~$93M (INR 750 crore). Chiratae's last fund, Fund 4, was also oversubscribed by 22%. The new fund will enable the firm to make growth-stage investments in technology
startups in India and overseas.
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Existing backers Pratithi, 57 Stars, and Manish Choksi joined as limited partners to the CGF-1 fund, joined by new investors State Bank of India, India Infoline Limited (IIFL), and Axis Bank.
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The new fund brings Chiratae's total
assets under management (AUM)
to over $1.1B.
- The firm has invested in over 130 startups across a 16-year span and successfully exited 48 investments.
- Notable previous and current portfolio companies include Lenskart, Myntra, PolicyBazaar, Uniphore, Firstcry, Curefit, and others.
