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Cross-border VC Firm Transit Capital to raise maiden fund of ₹438 crore


Mumbai-based venture capital firm Transit Capital is in talks to raise around ₹365-438 crore ($50-60 mn) for its maiden fund, as reported by LiveMint. Transit Capital was founded by Kumar Shah, the head of mergers & acquisitions and strategy at Micromax. The venture firm has its presence in India and USA with a branch office in San Francisco.

“The fund will focus on investing in tech start-ups that have a cross-border angle. These might be start-ups based overseas but with a big user base here in India or those that have back-end operations here,” said one of the two persons, aware of the development, cited in the report.

However, Transit Capital has not yet confirmed the development. Shah will use a similar investment strategy that he uses at Micromax and lead investments in business models that have the capability to work across multiple geographies.

There are several cross-border investment and venture firms in India including Transit Capital, IvyCap Ventures and Unicorn India Ventures.

Mumbai-based VC firm Unicorn India Ventures partnered with Ascension Ventures, the UK-based VC firm to launch a cross-border fund, as media reported in June this year. The joint venture fund will invest in startups in the United Kingdom looking to penetrate the Indian market.

Earlier in February this year, IvyCap Ventures was in the buzz looking for $100 million capital raise to enable cross-border investments between India and Israel.

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