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Business News/ Companies / News/  A91 Partners closes $350 million debut fund

A91 Partners, the venture capital fund set up by three former managing directors at Sequoia Capital, on Tuesday announced the close of its $350 million debut fund, the venture capital firm said on its Twitter handle @A91Partners.

The firm was floated by Gautam Mago, V.T.Bharadwaj and Abhay Pandey, all of whom left Sequoia last year to start their fund. This was also the second churn at Sequoia Capital, after WestBridge Capital decided to dermerge from Sequoia in 2011 as WestBridge’s founders wanted to focus on public market investments.

A91 is focused on making mid-stage investments, in Series-B and C deals of between $10 and $30 million. It has already made two investments, 70 crore in Sugar Cosmetics, which Mint first reported on 31 January and is leading a $30 million round in Hector Beverages, best known for its Paper Boat brand of ethnic drinks, Mint reported on 29 April.

The law firm Trilegal, led by its partners Ganesh Rao and Aditya Jha, acted as co-fund counsel for the fundraise, it said in a press statement.

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Updated: 09 Jul 2019, 08:07 PM IST
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