Sanjay Nayar’s Sorin Fund raises Rs 1,350 crore
Sorin Investments, an early-stage venture firm founded by former KKR India CEO Sanjay Nayar, made the final close of its maiden fund at Rs 1,350 crore, people aware of the matter told ET.
The fund counts KKR cofounder Henry Kravis, and Indian family offices such as Hero Group’s Munjal family and Hong Kong-based The Caravel Group’s Banga family among its key sponsors. Sidbi-sponsored Fund of Funds for Startups (FFS) scheme, and a startup fund set up by the Uttar Pradesh state government also took part in the fundraise.
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Offering CollegeCourseWebsiteIIT DelhiCertificate Programme in Data Science & Machine LearningVisitIndian School of BusinessISB Product ManagementVisitIndian School of BusinessProfessional Certificate in Product ManagementVisitSBICAP Ventures' Self-Reliant India (SRI) fund also backed Sorin’s maiden fund, one of the persons said. SBICAP Ventures is a wholly-owned subsidiary of state-run lender State Bank of India.
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Sorin had made the first close of the fund in 2022 at Rs 800 crore, followed by the second close at Rs 1,000 crore last year.
The firm also roped in Subeer Monga as a partner. Monga was earlier with ICICI Venture, prior to which he was a partner at private equity firm Mayfield India.
Sorin also hired Mandar Dandekar from Kalaari Capital as a partner back in 2021.
Nayar is the cofounder and chairman of Sorin, while Caravel’s Angad Banga is a
