A91 Partners, the venture capital fund set up by three former directors at Sequoia Capital, has closed its second fund to the tune of $525 million. The said amount is almost double the size compared to its maiden round which was closed at $350 million in 2019.
According to an ET report, A91 has deployed $250 million with having made 11 investments, it will continue to focus on investing averaging $30 million, also to look back at more technology firms through its latest fund.
Founded in 2018 by Abhay Pandey, VT Bhardwaj and Gautam Mago, A91 is focused on making mid-stage investments, in Series B and C deals between $10 and $30 million.
The investment has reportedly come in from private life insurance companies, high-net-worth individuals, family offices, and entrepreneurs in India from its maiden fund.
It has backed companies such as Digit Insurance, news aggregator Inshorts, cosmetics brand Sugar, and software platform Exotel.
Earlier this month, early-stage venture capital firm Stellaris Venture Partners had raised $225 million for its second India-dedicated fund, amid what has already been a record-breaking year for startup funding in the country.
