Titan Capital, an early-stage investor, has concluded its new opportunities fund at a size of INR 333 Crores. The firm said that this capital will be further pumped in the later rounds into its current portfolio companies.
Titan Capital to invest INR 15 cr in 20 firms
Led by Snapdeal co-founders Kunal Bahl and Rohit Bansal, Titan Capital usually invests in startups at seed or pre-seed stages. According to Economic Times, the Titan Capital Winners Fund initially closed at INR 200 crore in August and was expected to use a greenshoe option to increase the fund size.
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For the first time,Titan Capital is raising external capital. The Category-II alternative investment fund (AIF) aims to support tech-enabled businesses led by top founders and management teams creating new market categories. The fund will back around 20 companies, each with an average investment of INR 15 crore. It has already invested in three startups: Bengaluru-based Convin, eco-friendly home needs brand Beco, and SaaS startup Simplismart.
Titan Capital supports over 250 startups in India
Meanwhile, the investment firm says it has supported over 250 startups in India and the US in areas like consumer internet, AI, SaaS, fintech, and logistics. Recently, they launched Indicorns, an index to track top Indian startups that became profitable and reached INR 100 crore in revenue within 15 years of starting.
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By the end of FY23, the VC firm had recognized 186 Indian startups like OfBusiness, Zerodha, and Mamaearth as Indicorns. These startups have collectively generated a revenue of INR 1.06 lakh crore and profits of INR 8.6K crore.
Until now, Bahl and Bansal have invested their own money. Since 2011, they have backed over 280 startups under Titan Capital, including Mamaearth, OfBusiness, Razorpay, Urban Company, Ola, and Shadowfax.
