Bengaluru-based private equity firm Creaegis has successfully closed its debut fund, securing an impressive $425 million investment. The fund, which focuses on supporting indigenous startups, attracted capital from institutional investors, including the International Finance Corporation (IFC) and various family offices across India, the US, Europe, and Asia.
We are pleased to share the final close of our maiden fund of $425MM! We are privileged to have some of the leading institutional investors and family offices join us in this journey and are grateful for their trust and support!
— CREAEGIS (@creaegis) September 20, 2023
Creaegis Fund Highlights
Investment Strategy: Creaegis, led by former Premji Invest managing partner Prakash Parthasarathy, aims to establish a portfolio of 12-15 companies. They plan to invest in approximately four startups annually, making this private equity fund an active player in India’s startup ecosystem.
Prakash Parthasarathy, the driving force behind Creaegis, previously invested in successful ventures through Premji Invest. His involvement in companies like Lenskart, Myntra, and software unicorn Amagi showcased a keen eye for promising startups.
Sector-Agnostic Approach: The fund’s sector-agnostic strategy allows it to explore diverse investment opportunities across different industries within the Indian market.
Ticket Sizes: Creaegis plans to inject growth-stage capital into startups with average ticket sizes ranging from $25 million to $40 million, providing substantial financial support for their portfolio companies.
Doubling Down on Success: Creaegis intends to nurture and strengthen portfolio winners, emphasizing a commitment to long-term growth and success.
Creaegis allocated approximately one-third of the raised capital, around $142 million, to promising ventures. Some notable companies in their portfolio include the health tech platform Medikabazaar, Zopper, and Kale Logistics.
Growing Private Equity Landscape
Creaegis joins a growing list of private equity firms that have successfully closed their respective funds. This move underscores the confidence of investors in India’s thriving startup ecosystem. Stakeboat Capital, a mid-market private equity firm, recently completed its second fund with oversubscriptions, pushing its total assets under management above $150 million.
The closure of Creaegis’ maiden fund is a testament to the attractiveness of Indian startups in the eyes of global and domestic investors. With substantial resources at their disposal, Creaegis will play a pivotal role in fostering innovation and entrepreneurship in India.
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