Chiratae Ventures closes fourth fund at $337mn, oversubscribed by 25%

Chiratae has invested in more than 100 deals since inception in 2006, delivered two IPOs, four unicorns while completing 38 exits with a record 8 consecutive yrs of capital distribution to investors

Chiratae Ventures announced the closing of its fourth fund at $337 million, which was oversubscribed by 25 per cent.

Over half of Fund IV is from Indian investors including family offices and industrial families from India. Global investors include those from the US, UK, Europe, Japan, and Singapore. Chiratae Venture Funds are ESG compliant.

With a cumulative AUM of approximately $950 million, Chiratae Ventures has invested in more than 100 deals since its inception in 2006, delivered two IPOs, four unicorns while completing 38 exits with a record 8 consecutive years of capital distributions to investors.

CloudCherry, Flipkart, Manthan, Myntra, Newgen, PlaySimple, and Xpressbees are some of the portfolio companies that have been fully exited. Today 40 per cent of the early-stage Tech VC’s portfolio has scaled globally to more than 35 countries. Chiratae Portfolio has filed a total of 120+ patents, with 27 of these granted.

“We are pleased to continue to back stellar Indian entrepreneurs in technology startups assisting them to grow to dominant leaders in India and globally. It is a testimony to the startup ecosystem in India and high-quality tech entrepreneurs. We have the backing of Marquee Global and Indian Investors repeatedly. Chiratae has delivered stellar exits including a recent 43X return from PlaySimple,” said Sudhir Sethi, founder and chairman, Chiratae Ventures

Chiratae Ventures has backed homegrown unicorns such as FirstCry, Flipkart, Lenskart, and Policybazaar. PolicyBazaar just filed its DRHP. Its portfolio also includes Tech leaders such as Agrostar, Bizongo, Bounce, Cropin, Curefit, Emotix, GoMechanic, HealthifyMe, PlayShifu, Pyxis, Uniphore, and Vayana, among others.

TC Meenakshisundaram, founder and MD, Chiratae Ventures, added, “We are seeing over 3000 new companies every year. This number will increase further as India grows to a $5 trillion economy. Indian Insurance companies have also now backed us which is a game-changer for us”

Chiratae continues to focus on investing in startups with technology at the core, irrespective of end-use applications such as but not only limited to Consumer Tech, Enterprise Tech/SaaS, FinTech, Health-Tech, Deep-Tech, Ed-Tech, Agri-Tech, etc.