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Mumbai-based VC firm A91 Partners has closed its third fund at USD 665 million, reaffirming its focus on growth-stage investments in Indian startups across consumer, healthcare, financial services, and industrial sectors. Founded in 2018 by ex-Sequoia Capital India executives, the firm typically invests USD 50 million in expansion-ready ventures, with past bets on Digit Insurance, Atomberg, and Push Health. A91's latest fund signals investor confidence in India's long-term potential, despite recent funding slowdowns. The move aligns with a broader trend of successful VC fundraising, including Accel's USD 650 million Fund VIII and Stellaris USD 300 million fund, highlighting ongoing momentum in India's startup ecosystem.
Mumbai-based venture capital firm A91 Partners has successfully closed its third fund at USD 665 million, reinforcing its commitment to supporting India's growth-stage startups. Founded in 2018 by former Sequoia Capital India executives, A91 focuses on sectors such as consumer, healthcare, financial services, and industrials. The firm typically invests between USD 10 million and USD 50 million in companies poised for expansion. Notable investments include Digit Insurance, Atomberg, and Push Health.
The announcement, made via LinkedIn, emphasized A91's dedication to providing patient capital to Indian entrepreneurs. The firm believes that long-term investment plays a crucial role in accelerating value creation within Indian businesses.
This development comes amid a broader trend of substantial fundraising activities in India's venture capital landscape. In January 2025, Accel secured USD 650 million for its India and Southeast Asia-focused Fund VIII, while Stellaris Venture Partners closed its third fund at USD 300 million last year, maintaining its focus on early-stage investments in sectors like SaaS, consumer internet, and fintech.
Despite a slowdown in venture funding for Indian startups during 2023 and early 2024, institutional venture capital funds continue to attract significant investment. Global limited partners remain confident in India's long-term potential, particularly in areas driven by domestic consumption, digitalization, and infrastructure development.
A91's successful fundraising underscores the resilience and attractiveness of India's startup ecosystem. As the firm deploys this new capital, it is expected to play a pivotal role in nurturing the next wave of Indian startups, contributing to the country's economic growth and innovation landscape.
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