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Bengaluru-based private equity fund Creaegis today announced the final closure of its maiden fund at $425 million or Rs 3,529 crore to support homegrown startups.
"We are pleased to share the final close of our maiden fund of $425MM! We are privileged to have some of the leading institutional investors and family offices join us in this journey and are grateful for their trust and support!." the private equity fund wrote in a tweet.
We are pleased to share the final close of our maiden fund of $425MM! We are privileged to have some of the leading institutional investors and family offices join us in this journey and are grateful for their trust and support!
— CREAEGIS (@creaegis) September 20, 2023
Who are the investors?
According to a statement, Creaegis raised capital from institutional investors, including International Finance Corporation (IFC) and family offices from India, the US, Europe and Asia for this sector-agnostic fund, which it will use to infuse in growth-stage Indian startups.
According to a report by ET, Creaegis intends to build a portfolio consisting of 12-15 startups, beginning with an investment in four startups annually.
The report also said that the private equity firm plans to invest in amounts ranging from $25 million to $40 million on average, and will ‘double down on its portfolio winners’.
Founded in 2018 by former Premji Invest managing partner Prakash Parthasarathy, Creaegis recently led $30 million round in Mumbai-based Kale Logistics Solutions. It has also backed healthtech startup Medikabazaar and insurtech startup Zopper.
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