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ChrysCapital raises $700 mn to keep NSE stake, return capital to sixth fund’s LPs

VCCircle

VCCircle · 1y ago

ChrysCapital raises $700 mn to keep NSE stake, return capital to sixth fund’s LPs

Private equity firm ChrysCapital has raised $700 million for a "continuation fund" to acquire the stake it holds in the National Stock Exchange (NSE). The fund has been anchored by US-based HarbourVest Partners, and European firms LGT Capital Partners and Pantheon Ventures. ChrysCapital used the fresh capital to buy out its Fund VI from the NSE, allowing it to return money to investors while giving new investors exposure to the Indian stock exchange. ChrysCapital has raised over $5 billion across nine funds and has invested more than $4 billion in over 100 deals.

Related News

PE Firm ChrysCapital Closes $700 Mn Continuation Fund

Inc42 · 1y ago

PE Firm ChrysCapital Closes $700 Mn Continuation Fund

Private equity firm ChrysCapital has closed a $700 million Continuation Fund, anchored by US-based HarbourVest Partners and European funds LGT Capital Partners and Pantheon Ventures. The fund will allow ChrysCapital to maintain its stake in the National Stock Exchange (NSE) as it acquires ChrysCapital Fund VI's stake in the stock exchange. ChrysCapital claims to be the largest PE firm of its kind in India, having raised over $5 billion across nine funds and invested over $4 billion in more than 100 deals. The announcement comes amidst a series of new fund launches in the VC and PE space in India.

WestBridge, Convergent, Sixth Sense Ventures make $75-mn exit move

VCCircle

VCCircle · 1y ago

WestBridge, Convergent, Sixth Sense Ventures make $75-mn exit move

Private equity firms WestBridge Capital and Convergent Finance, along with venture capital firm Sixth Sense Ventures, have made an exit worth $75 million from an undisclosed company. These firms have joined a growing number of alternative investment firms that have been cashing out on publicly listed companies due to rising stock market valuations. WestBridge sold its entire stake in the company, while Convergent Finance and Sixth Sense Ventures also made significant divestments.

ChrysCap takes a step forward for India’s largest PE fund with extra dose from LPs

VCCircle

VCCircle · 5m ago

ChrysCap takes a step forward for India’s largest PE fund with extra dose from LPs

ChrysCapital is progressing towards establishing India's largest sector-agnostic private equity fund. After a soft launch last year, the firm is preparing to close its tenth consecutive fund, indicating significant commitment from Limited Partners (LPs). The fund aims to invest in various sectors across India, marking a milestone in the PE landscape. ChrysCapital continues to build on its reputation, leveraging extensive industry experience and investor confidence to secure substantial capital for future investments.

ChrysCap raising continuation fund; Blackstone opposes Aakash debt conversion

VCCircle

VCCircle · 1y ago

ChrysCap raising continuation fund; Blackstone opposes Aakash debt conversion

Indian private equity firm ChrysCapital is reportedly raising a continuation fund worth up to $300 million to retain its stake in the National Stock Exchange of India Ltd (NSE). The firm is working with a team at UBS Group AG for this purpose. In other news, Blackstone is said to be opposing the debt conversion plan of Aakash Education Services.

Digit General Insurance, Atomberg Backer A91 Partners To Raise Its Largest Fund At $750 Mn

Inc42 · 1y ago

Digit General Insurance, Atomberg Backer A91 Partners To Raise Its Largest Fund At $750 Mn

Mumbai-based investment firm A91 Partners is in the process of raising its largest fund ever, targeting $700-750 million. The firm, which counts Digit General Insurance and Aye Finance among its portfolio companies, aims to support capital-efficient, growth-oriented businesses across various sectors in India. With the increase in fund size, A91 Partners may raise its average investment from $20-30 million to $35-40 million. The firm closed its second fund at $550 million in 2021 and has made partial exits from companies like Atomberg and Pushp. Other major players like ChrysCapital and Kedaara Capital are also preparing to secure fresh funds in India.

General Atlantic midway on its $700 mn exit from India portfolio

VCCircle

VCCircle · 1y ago

General Atlantic midway on its $700 mn exit from India portfolio

Private equity firm General Atlantic is in the process of exiting its $700 million portfolio in India. The firm, known for making late-stage venture capital and growth equity transactions, has already sold a 10% stake in one of its Indian portfolio companies. General Atlantic is believed to have filed for an initial public offering in the US.

Titan Capital Winners Fund raises target corpus of Rs 200 Cr

Entrackr

Entrackr · 11m ago

Titan Capital Winners Fund raises target corpus of Rs 200 Cr

Titan Capital Winners Fund, which is backed by Snapdeal co-founders Kunal Bahl and Rohit Bansal, has raised its target corpus of Rs 200 crore as the duo will anchor this fund as its largest investors. The fund will invest exclusively in follow-on rounds of breakout companies from its seed portfolio. “With the Titan Capital Winners Fund, we can more significantly support the founders of our portfolio companies in subsequent rounds of capital raises, further strengthening Titan Capital’s partnership with them,” Bahl and Bansal said in a joint press release. The Titan Capital Winners Fund focuses on tech-enabled businesses led by founders and management teams building category creators. The fundraise was completed in less than six months and the fund’s LPs include prominent family offices, CEOs and founders of leading companies, and key figures from the VC landscape. Titan Capital said that a select number of LPs are expected to be added via the optional greenshoe. In addition to Bahl and Bansal, the Winners Fund is managed by a team including Chetan Rana, who is serving as the chief financial officer (CFO). Titan Capital has backed more than 250 companies since 2011. Some of its seed investment portfolio includes Urban Company, MamaEarth, OfBusiness, Razorpay, Unicommerce, and Ola Cabs. Through the fund, Bahl and Bansal also made hefty exits from Urban Company, MamaEarth, Ola and Credgenics. For context, they had invested Rs 57 lakh total in Urban Company’s early funding rounds and recently took complete exit with Rs 111 crore. In Ola, their original investment was to the tune of $60,000 while the SoftBank-backed company reached its peak valuation of $7.3 billion in 2021 when they exited fully. E-commerce SaaS platform Unicommerce, which also comes under the umbrella of Snapdeal owner AceVector, went public. It was one of the profitable startups to get listed on the stock exchange.

KKR to double down on LEAP India as company raises $63 mn

VCCircle

VCCircle · 7m ago

KKR to double down on LEAP India as company raises $63 mn

Private equity firm KKR is set to increase its investment in LEAP India Pvt Ltd, a storage and supply chain services provider. KKR is investing INR 333 crore ($62.7 million) in LEAP India's latest funding round, while other investors include Sixth Sense, First Bridge, and Madhurima International. LEAP India specializes in packaging solutions that improve storage and product movement across supply chains. The company has seen notable revenue growth and improved operating profit and margin in recent years. KKR acquired an 80.63% stake in LEAP India in August 2023.

Nikhil Vora's Sixth Sense strikes gold from same company twice

VCCircle

VCCircle · 1y ago

Nikhil Vora's Sixth Sense strikes gold from same company twice

Nikhil Vora-led Sixth Sense Ventures has achieved a remarkable feat by fully cashing out of a consumer-focused company four years ago and re-entering it, resulting in one of the highest returns on an Indian investment by a venture capital firm. Now, Sixth Sense has once again sold a significant stake in the same company, reaping substantial profits.

‘ChrysCapital will increasingly focus on B2B enterprise tech’

Livemint

Livemint · 11m ago

‘ChrysCapital will increasingly focus on B2B enterprise tech’

ChrysCapital, an Indian private equity investor, plans to shift its focus to business-to-business (B2B) enterprise tech companies. The firm aims to explore new opportunities within the information technology services sector, specifically in new-age digital services rather than legacy technologies. On the B2B side, ChrysCapital will concentrate on software-as-a-service (SaaS) companies as they cater to global markets. Additionally, the firm will continue its investment in high-growth consumer tech companies that are profitable or near profitability. ChrysCapital recently sold its controlling stake in healthcare-focused BPO firm GeBBS to global private equity firm EQT Private Capital Asia.

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