Trifecta Capital is planning to launch a late-stage equity venture fund with a target corpus of Rs 1,500 crore ($201.6 million), the company said in a statement.
Trifecta Leaders Fund I will invest in new economy companies which are likely to pursue an IPO in the next one to three years.
With the launch of the fund, Trifecta Capital aims to become a lifecycle capital provider to the startup ecosystem.
It has so far invested in over 70 companies across two venture debt funds. It claims that its portfolio has nine unicorns and 11 soonicorns including Bigbasket, Pharmeasy, Cars24, Vedantu, Infra.Market, ShareChat, and Dailyhunt.
Others include UrbanCompany, CarDekho, Blackbuck, Ninjacart, NoBroker, Kreditbee, Dehaat, Turtlemint, Livspace and BharatPe.
Trifecta Leaders Fund I will invest in category-leading startups, selected predominantly from Trifecta Capital’s portfolio across venture debt funds.
Trifecta Leaders Fund I will typically invest $15-30 million each in around 10 companies for minority stakes through a combination of primary and secondary transactions.
The fund will have a tenure of five years.
Trifecta Capital is in the process of obtaining an approval for the fund.
It has invested across business-to-business, consumer services, consumer brands, e-commerce, mobility, edtech, agritech, fintech and healthcare. As of 1 March, 2021, it had raised over Rs 1,500 crore across the two venture debt funds.