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Trident Growth Partners Closes Rs 1,000 Cr Maiden Fund, Targets Growth-Stage Start-Ups

Trident Growth Partners, an investment firm founded by former executives from Premji Invest and IFC, has closed the first round of its debut fund at over Rs 1,000 crore

Trident Growth Partners Closes Rs 1,000 Cr Maiden Fund, Targets Growth-Stage Startups

An investment firm Trident Growth Partners has announced the first closure of its maiden fund at over Rs 1,000 crore. The firm, founded by former senior investment professionals from Premki Invest and International Finance Corporation --- Atul Gupta, Rajesh Ramaiah and Pravan Malhotra --- received its AIF license in July 2024. Currently, the firm is exercising the greenshoe option to raise another Rs 1,000 crore.

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It will lead or co-lead Series B+ investments in fast-growing category leaders for a significant minority stake. While sector agnostic, the fund’s investment themes include Consumer, Financial Services, Enterprise Technology, Manufacturing and Healthcare.

“Our team's extensive investment experience across market cycles provides us with a unique perspective on macro and sectoral trends. We offer more than just funding, bringing deep operating experience, a founder-first mindset, and a robust network to support companies in their growth journey,” said Trident Growth Partners managing director Atul Gopta.

The firm is focussed on backing resilient, growth-stage companies with strong unit economics that prioritize sustainability and governance, the company said in an official statement.

The trio has actively invested in category-leading Indian companies that include Policybazaar, KreditBee, Myntra, Lenskart, Flipkart, Purplle, FirstCry, BigBasket, Amagi, Pixis, Lambdatest, Moglix, Best Value Chemicals, Gold Plus Glass, MedPlus and NephroPlus. Of their 40 prior investments, 14 became unicorns and 8 had IPOs/M&A.

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It has been supported by Claypond Capital, the family office of Dr Ranjan Pai, Chairman of Manipal Group, Fund of Funds for Start-ups (managed by SIDBI) and Self Reliant India Fund (SRI), along with 30+ founders of high-profile companies, including Lenskart, PolicyBazaar, Persistent Systems, Livspace, KreditBee, Amagi, Netcore, Addverb, Sagar Cements, and Triveni Polymers.

The company has already completed its first investment by co-leading the Series B round in Spotdraft, a leading SaaS company in the Contract Lifecycle management space and is in the final stage of closing its second investment. The fund has a pipeline of investments across its key themes and expects to make a few more investments this year.

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