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Aya Lin · · 1 min readIn brief: Indian VC firm A91 closes maiden fund at $350m, sources say
- A91 Partners, which was founded last year by three former Sequoia Capital managing directors, have closed a US$350 million fund, according to two people familiar with the matter, The Economic Times reported.
- This would be one of the largest maiden funds raised by Indian general partners and is expected to back consumer, healthcare, financial services, and tech companies.
- Last week, A91 informed its limited partners that it had racked up dollar commitments of US$280 million, while almost US$70 million of the corpus was rupee-denominated from Indian backers.
- The domestic sponsors include private life insurance companies, high-net-worth individuals, family offices, and entrepreneurs. Some of its early foreign LPs include International Finance Corporation and Asia Alternatives, with others like Adams Street and LGT Capital Partners also participating.
Editing by Charmaine de Lazo
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