Chiratae Ventures closes its first Growth Fund at Rs 1,000 Cr

Venture Capital firm Chiratae Ventures has closed its first Chiratae Growth Fund (CGF-I) raising nearly Rs 1,001 crore on a targeted Rs 750 crore.

CGF-I will invest in the growth rounds of technology startups from its portfolio and other new opportunities, making it a sector-agnostic fund to support the growth and expansion of companies, the VC firm said in a statement.

CGF-I is supported by Chiratae's existing investors, including Pratithi (Family Office of Kris Gopalakrishnan, co-founder of Infosys), 57 Stars (a global alternative asset manager), and Manish Choksi (Vice Chairman and non-executive-board-member of Asian Paints) and his Family Office along with new investors including State Bank of India, IIFL, and others.

The VC firm made its first investment through the fund of Rs 100 crore in LensKart. According to Chiratae, it has made around 130 investments, 48 exits, 8 unicorns, and 3 IPOs.

Chiratae Ventures has been an early backer of technology-led companies such as Bizongo, Curefit, Fibe, Firstcry, Lenskart, Myntra, PolicyBazaar, Pixis, Vayana, and Uniphore, amongst others.