New York-based hedge fund Falcon Edge Capital, which has invested in companies like Ola, Quikr, Dailyhunt, Khatabook, and others, has raised $45.7 million for its first India-focussed fund called Falcon Edge India I LP.
In its US Securities and Exchange Commission (SEC) filings, Falcon Edge disclosed that Cayman Islands-based Falcon Edge India I LP is a pooled fund of nine investors, which will focus on private equity investments. However, the filing did not disclose the names of the nine investors on board.
According to media reports, Falcon Edge Capital was looking to raise $100 million for this fund and had received commitments of about $75 million last year.
Started in 2012 by Richard Gerson, Navroz D Udwadia, and Ryan Khoury, Falcon Edge Capital manages $2 billion assets globally. The hedge fund first forayed in India in 2014 where it participated in a $90 million investment round led by SoftBank in real estate platform Housing. Most recently, in October last year, it invested in social commerce startup DealShare. Before that, in July 2019, student housing startup Stanza Living raised an undisclosed amount led by Falcon Edge Capital as a part of its ongoing Series C round.
Funding in Indian startups
India seems to attracts investors despite economic slowdown. The year 2019 saw steady funding activity despite several deterrents owing to political and economic events. All through the year, despite the economic slowdown, the startup ecosystem maintained its momentum of raising funds from investors.
According to YourStory Research, funding in the startup ecosystem in the calendar year 2019 saw only a marginal fall of just 2.4 percent when compared to the corresponding period of 2018 (it is to be noted that for the purpose of this report, the data used was as of December 27, 2019). The funding raised during this period amounted to $11.1 billion across 830 deals. The total funding raised by the Indian startup ecosystem in 2018 was $11.38 billion.
(Edited by Megha Reddy)