A91 Partners closes its largest fund at $665 million

ET had first reported about A91 Companions’ plan to boost capital in March 2024. The agency has backed the likes of Blue Tokai Espresso, Uncommon Rabbit, Paperboat and Atomberg.

That is among the many quickest scaleups by way of fund dimension for an area investment fund amid. For its maiden fund in 2018, A91 Companions had raised $350 million, adopted by a $550 million funding car in 2021.

Based by former Sequoia Capital India (now Peak XV Partners), companions Abhay Pandey, VT Bharadwaj and Gautam Mago, A91 Companions focuses on investing in firms throughout expertise, shopper and monetary companies.

“We began A91 in 2018 with the next beliefs — affected person capital will play an vital function in accelerating worth creation in Indian companies throughout sectors. We additionally believed within the alternative to create a world-class Indian investment firm — for founders who’re aiming to construct massive enduring companies from India. All these beliefs have been strengthened during the last six years,” A91 Companions stated in a LinkedIn submit.

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The huge fund shut by A91 Companions comes within the backdrop of a number of enterprise companies including to their dry powder. Tech investor Accel India, an early backer of Flipkart and Swiggy, closed a $650 million fund in January. Enterprise capital companies proceed to carry important unallocated cash from funds raised over the previous two years. Early-stage investor Stellaris Enterprise Companions closed a $300 million fund in November 2024, whereas Peak XV Companions, Lightspeed Enterprise Companions, and 3one4 Capital additionally maintain massive reserves.

Matrix Partners India (now referred to as Z47) had additionally closed a $550 million fund in 2023.

This development displays broader dynamics within the Indian enterprise capital ecosystem. In 2024, Bluestone investor IvyCap Ventures, former KKR India CEO Sanjay Nayar’s Sorin Investments and climate-focused Avaana Capital additionally introduced sizable fund closures.