A91 Partners is targeting $250-330 million in its maiden fund, with plans to back 10-15 companies in the early growth or late-stage private companies across sectors like consumer goods and services, healthcare, financial services, and technology.
The firm, which was floated by Abhay Pandey, VT Bharadwaj, and Gautam Mago last year, is among a new set of investment funds started by executives who have gone independent after long stints at bigger venture capital firms.
This includes Stellaris Ventures, started by former Helion senior executives Rahul Chowdhri, Ritesh Banglani and Alok Goyal in 2016 and Fireside Ventures that was set up Helion Venture Partners’ founding partner Kanwaljit Singh.
SAIF Partners also saw two of its fund managers, Mukul Singhal and Rohit Jain, leave to launch Pravega Ventures in 2016 while Epiq Capital was started by Matrix Partners co-founder & MD Rishi Navani and Endiya Partners was set up by former Ventureast partner Sateesh Andra.
IFC has also invested in other venture capital funds in the country like Pi Ventures, Chiratae Ventures (formerly IDG Ventures India) and Stellaris Venture Partners.