Chiratae Ventures makes second close of Fund V at $150 Mn

Chiratae Ventures, one of leading technology-focused venture capital firms, has announced the second close of its fifth venture capital fund at $150 million, with a final close expected in the first quarter of 2026. 

The fund will back early-stage startups across Seed, Series A, and Series B rounds.

The round saw participation from domestic and international LPs, institutional investors, family offices, and repeat backers from Chiratae’s previous funds. 

Fund V is led by Managing Directors Venkatesh Peddi and Ranjith Menon, who will drive investments across the firm’s core focus sectors.

Founded by Sudhir Sethi and T.C. Meenakshisundaram (TCM), Chiratae Ventures has built its investment philosophy on identifying large white spaces where technology can deliver population-scale impact. With Fund V, Chiratae will double down on AI, deeptech, healthtech, consumertech, fintech, SaaS, climatetech, and spacetech, while also expanding into emerging sectors such as DefenceTech and Quantum technologies.

The firm has already begun deploying capital from the new fund into startups like HouseEazy (proptech), Pepsales (AI-powered B2B sales demos), Mili (meeting assistant for wealth firms), and Zilo (quick commerce fashion), with commitments to six more companies in the pipeline.

With over $1.3 billion AUM across seven funds, 130 investments, over 50 exits, 8 unicorns, and 4 IPOs, Chiratae has been an early investor in household names such as FirstCry, Myntra, Lenskart, Flipkart, PolicyBazaar, and Cult.fit.