Creaegis closes maiden fund at $426 million
Creaegis has announced the final close of its maiden fund at about $426 million (Rs 3,500 crore), as it looks to back startups locally.
Founded by former Premji Invest managing partner and chief investment officer (CIO) Prakash Parthasarathy, the fund is expected to be largely sector-agnostic and will look to infuse growth-stage capital in Indian startups.
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Offering CollegeCourseWebsiteNorthwestern UniversityKellogg Post Graduate Certificate in Digital MarketingVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitIndian School of BusinessISB Digital Marketing and AnalyticsVisitIndian School of BusinessISB Applied Business AnalyticsVisitIt is expected to make investments with average ticket sizes ranging between $25 million and $40 million, and will look to double down on portfolio winners.
With its maiden fund, Creaegis is looking to build a portfolio of 12-15 companies, and will back roughly four companies annually.
“We are going to be sector-agnostic and will focus on areas of digital transformation, with use-cases involving solving inefficiencies. We will look to back solid, resilient business models and will continue our journey of investing in great founders,” said Parthasarathy in an interaction with ET.
In the past, Parthasarathy, through Premji Invest, has invested in the likes of eyewear brand Lenskart, fashion marketplace Myntra and software unicorn Amagi.
Almost half of the overall corpus raised as part of Creaegis’ maiden fund is from domestic investors. Parthasarathy said.
“We are privileged to have the support of some of the leading institutional investors and family offices from India, US, Europe and Asia,” he added.
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