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Early Flipkart backer Chiratae Ventures marks first close of maiden growth fund at Rs 759 cr

Early Flipkart backer Chiratae Ventures marks first close of maiden growth fund at Rs 759 cr

Chiratae Ventures, an early backer of companies like Flipkart, PolicyBazaar and FirstCry, has announced the first close of its maiden growth fund at Rs 759 crore

Chiratae Ventures, an early backer of companies like Flipkart, PolicyBazaar and FirstCry, has announced the first close of its maiden growth fund at Rs 759 crore Chiratae Ventures, an early backer of companies like Flipkart, PolicyBazaar and FirstCry, has announced the first close of its maiden growth fund at Rs 759 crore

Chiratae Ventures, an early backer of companies like Flipkart, PolicyBazaar and FirstCry, has announced the first close of its maiden growth fund at Rs 759 crore. 

Named Chiratae Ventures Growth Fund - I (CGF - I), the fund is dedicated solely to investing in growth-stage technology firms its portfolio and outside. The sector-agnostic fund aims to back 15-20 companies.  

This is the first growth fund raised by Chiratae Ventures. Limited partners in the fund include domestic institutional investors such as Infosys co-founder Kris Gopalakrishnan, Choksi Family Office (promoters of Asian Paints), State Bank of India, IIFL Wealth & Asset Management and other family offices. 

 “This is one of our fastest fundraisings. We thank our investors for recognising our performance, strategy, returns and governance. The fund will be focused on fuelling the growth of 15-20 technology start-ups at growth stage,” Sudhir Sethi, Founder and Chairman of Chiratae Ventures, said. 

The Bengaluru-based investor has raised five early-stage funds so far and currently manages $1.1 billion in AUM. Bizongo, Curefit, EarlySalary, Firstcry, GoMechanic, Lenskart, Myntra, PolicyBazaar, Pyxis, Vayana, and Uniphore are some of the start-ups that the 16-year old fund has backed early on.

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