Fund News
Trident Growth Partners raises Rs.1,000-Cr in first close of maiden fund
Trident Growth Partners , a growth-stage private equity firm, has raised INR 1,000 crore in the first close of its maiden fund. Investors in the fund include Claypond Capital, the family office of Ranjan Pai, Chairman of Manipal Group; Fund of Funds for Startups, managed by SIDBI; and Self Reliant India Fund (SRI). More than 30 startup founders, general partners at venture funds and other family offices also contributed.Trident aims to close the fund at INR 2,000 crore. The founding team - Atul Gupta, Rajesh Ramaiah and Pravan Malhotra were previously with Premji Invest and International Finance Corporation (IFC).Trident will lead or co-lead Series B plus investments in fast-growing category leaders for a significant minority stake. While sector agnostic, the fund’s focus areas include consumer, financial services, enterprise technology, manufacturing and healthcare sectors.
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