Panthera Growth Partners makes first close of $250-M second fund

Singapore-headquartered tech-focused investment firm Panthera Growth Partners (PGP) has announced the first close of its second fund. The company has secured commitments for over 50% of the USD 250 million fundraise target. An average of USD 20 million will be invested in 10-12 portfolio companies across India and Southeast Asia. Backed by institutional investors from India, the EU, and US, Fund II seeks to fund next-generation consumption and enterprise services businesses. The fund plans to invest in companies that have achieved product-market fit and are seeking to accelerate market growth. Panthera Growth Partners Fund I had raised USD 84 million from global institutional investors, which was largely deployed across companies such as BigBasket, Pepperfry, Zivame, and OfBusiness.