IFC to invest in A91 Partners' third fund

The International Finance Corporation (IFC), part of the World Bank Group, is considering investing in venture capital firm A91 Partners' third fund, according to a disclosure on the firm’s website. 

IFC may invest up to $35 million directly and could add another $30 million for co-investments.

According to the disclosure, A91 Partners is aiming to raise $675 million for this new fund. The fund will focus on supporting small and mid-sized companies in sectors like consumer goods, financial services, healthcare, manufacturing, and technology. Each investment is expected to range between $10 million and $50 million, covering around 15 companies.

Founded in 2018 and based in Mumbai, A91 Partners previously raised $350 million in its first fund and $550 million in its second. 

A91 Partners has also been investing in segments such as coffee, masala, and home appliances brands such as Atomberg. It led a $30 million Series B round in coffee brand Blue Tokai Coffee Roasters. Some notable companies in its portfolio include Digit Insurance, news aggregator Inshorts, cosmetics brand Sugar, software platform Exotel, healthkart, Paper Boat, and Plum, among others.

One of its portfolio companies, Go Digit General Insurance, went public last year.