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.
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.