Trifecta Capital invests Rs 400Cr in 4 Indian tech companies

Trifecta Capital on Wednesday said it has invested Rs 400 crore (about USD 53 million) across four companies from its maiden equity fund, Trifecta Leaders Fund - I.

The fund has invested in ixigo, Good Glamm Group (MyGlamm), API Holdings (Pharmeasy), and Meesho, in line with its strategy to back growth to late-stage category-leading tech companies, a statement said.

The fund was launched in May this year with a target corpus of Rs 1,500 crore (about USD 200 million) and announced its First Close in July.

ixigo is a multi-modal travel platform, while Good Glamm Group is a D2C (Direct-to-Consumer) beauty and personal care company and Meesho is a social commerce company.

API Holdings (PharmEasy) is an omnichannel healthcare platform spanning medicines, diagnostics, consultation, and information. Pharmeasy is preparing to file a DRHP with Sebi for its upcoming IPO.

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"The presence of deep tech talent, a large consumer base, and favourable regulatory changes easing domestic listing of startups has created India's thriving startup and tech ecosystem. With its unique heritage, access, expertise, and relationships in this maturing startup ecosystem, Trifecta Capital is well-positioned to be a reliable partner of choice for founders of growth to late-stage tech companies," the statement said.

Trifecta Capital Partner Lavanya Ashok said Trifecta Capital is delighted to partner with these category-defining companies, solving the unmet needs of Indian consumers in truly differentiated ways.

"Be it democratising access or broadening choice for the next billion users, our companies are contributing strongly to the vibrant, tech-powered ecosystem in the country, Ashok added.

As of September 30, 2021, Trifecta has raised over Rs 1,500 crore (about $200 million) across two venture debt funds and Rs 1,200 crore (about $160 million) in its equity fund. Trifecta Capital recently also launched its third venture debt fund.

Across the venture debt funds, the firm has invested over Rs 2,300 crore (about $310 million) in over 85 companies. Its portfolio comprises 20 unicorns (companies with $1 billion valuation) and 'soonicorns', including Bigbasket, Pharmeasy, Cars24, Vedantu, Infra.Market, ShareChat, DailyHunt, Urban Company, CarDekho, BlackBuck, Ninjacart, NoBroker, KreditBee, DeHaat, Turtlemint, Livspace, MobiKwik, Ixigo, BharatPe, and others.