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Titan Capital Winners Fund raises target corpus of Rs 200 Cr

EntrackrEntrackr ยท 10m ago
Titan Capital Winners Fund raises target corpus of Rs 200 Cr
Medial

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. โ€œWith 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 Capitalโ€™s partnership with them,โ€ 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 fundโ€™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 Companyโ€™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.

Edtech startup Bluelearn shuts operations, to return 70% of capital

EntrackrEntrackr ยท 11m ago
Edtech startup Bluelearn shuts operations, to return 70% of capital
Medial

Social learning platform Bluelearn on Sunday announced that it has shut down its operations as the firm found it tough to grow fast. The three-year-old firm will return 70% of the capital it raised to its investors. The Bengaluru-based startup had raised nearly $4 million across two rounds from Elevation Capital, Lightspeed, Titan Capital, 2am VC. Angel investors including Vidit Aatrey and Sanjeev Barnwal, Awais Ahmed, Vivek Mohan and others also backed the community driven platform. โ€œWe realised that building a venture-scale business with Bluelearn was tough. We had been very conservative with capital, allowing us to return 70% of the capital we raised back to investors,โ€ Bluelearnโ€™s co-founder and CEO Harish Uthayakumar said on X. Founded by Uthayakumar and Shreyans Sancheti, Bluelearn started off as a telegram channel for students to help each other with common questions. At its peak, the startup claimed to have over 250,000 members from various colleges and startups across India and abroad. Since its inception, the company has helped thousands of students with internships, jobs and make friends through its online community. More than half a dozen startups operating in India shut down their operations in 2024 so far. The list counts Resso (India), Rario, OKX (India), Muvin, GoldPe, Koo and Nintee. However, a few of them have also announced to return a significant capital to their investors. For context, Paras Chopra-led digital health startup Nintee, which shut down its operations in April, said that it will return a majority of the capital raised from its investors. Similarly, trading app Investmint will return 25% of capital as it underwent insolvency proceedings. As per a media report, fashion startups Fashinza and Virgo will also return capital to their investors after a failed pivot. As per data compiled by TheKredible, more than 15 startups ceased their operations due to funding crunch and other challenges in 2023.

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