Thursday, 30 May 2024, Bengaluru, India
Introduction
Sorin Ventures, the venture capital firm launched by former KKR India boss Sanjay Nayar, is now set to close its inaugural fund at ₹1350 crore. This significant capital increase is expected to foster innovation and advance progress in different industries, especially technology and related industries.
Maiden Fund
Sorin Investment’s first fund is well placed to source Series A & B-stage opportunities. Thus, the fund will seek to invest in budding startups during their weak but crucial stages, believing that the funds provided will help them grow into successful businesses.
Other fund members are family offices and institutions as limited partners. Prominent LPs include the Nayar family office, Banga family office, Munjal family office, Henry Kravis (KKR) family office, senior partners from KKR, SIDBI, Self-Reliant India, and UP Startup Fund’s first check.
Sorin’s Vision and Commitment
During the meeting, Sorin Investments Chairman Sanjay Nayar thanked the LPs for entrusting their money with the firm. He is optimistic about India’s technology scene, pointing to the quality of technology entrepreneurs, consumers, and businesses’ augmented demand for technology.
Angad Banga, the General Partner and co-founder of Sorin Investments, pointed out India’s growth rate as the third-largest economy. A solid and stable government supports technical innovation and startup activities, contributing to an environment that fosters disruption.
Early Activity and Investments
Sorin Investments has not taken the time to make its presence felt in the business world. Some firms in which the firm has invested include Uniqus Consultech, Venwiz, and Lite Store. This early activity proves that Sorin is willing to propel innovation into the burgeoning technology sector in India.
The use of technology in India remains an upward trend as a new breed of entrepreneurs seeking to bring innovative ideas to the market emerges. Sorin Investments sees this trend and intends to be one of the pioneers in investing in companies that want to change the world.
Subeer Monga Joins as Partner
Sorin Investments has hired Subeer Monga as a partner to expand its operations. Monga has prior experience from his positions at ICICI Ventures and Mayfield India. His expertise will also help the firm effectively search for and invest in potential startups.
Global Aspirations and Entrepreneurs Empowerment
Sorin Investments isn’t limited to India only. This firm is set on expanding to other parts of the globe, including the Asia-Pacific region and the Middle East. Their mission does not end there; they are bound to go further and have to change the world. The first fund is now ready to support the growth of new technological businesses and help create a new chapter in India’s development.
Conclusion
Sorin Investments launched its ₹1,350 crore first fund, which indicates confidence in India’s startup scene. As they continue to support innovative founders and technological advancements, one should look forward to innovations that define the future of tech in India and globally.
