Titan Capital, an early-stage investor in India led by Snapdeal co-founders Kunal Bahl and Rohit Bansal, has secured the final close of its new opportunities fund at Rs 333 crore (about $40 million), The Economic Times reported on Monday (Oct. 21).
The firm, which counts companies such as Mamaearth, OfBusiness, Razorpay, Urban Company, Ola and Shadowfax, plans to deploy the capital in its existing portfolio companies in later stages.
The new fund plans to back about 20 startups from Titan Capital’s seed portfolio in their follow-on rounds, with an average cheque size of Rs 15 crore.
The firm has so far made three investments from the said fund: Convin, which is building an AI copilot for customer facing teams; Beco, an eco-friendly direct-to-consumer (D2C) home needs brand; and Simplismart, a SaaS platform.
Despite uncertainty in the global market, fundraising in India continues to gain momentum. According to data available with Venture Intelligence, private equity (PE) and venture capital (VC) firms raised as much as $5.8 billion from limited partners (LPs) during the first nine months of 2024. While it is a drop of 14% from the same period last year, experts are unfazed as investment opportunities in the country are rising with its long-term growth remaining intact.
During the January-September period last year, fund managers had garnered $6.7 billion.