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

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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.

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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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SW Staff
Startup Wonders provide startup resources, stories and news to help budding entrepreneurs grow and succeed in their business career.


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Indian Startup Funding Report November 2018

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