Playbook Partners marks first close of maiden $250 mn growth fund
Source: Business Standard
Playbook will partner with tech-enabled businesses targeting large market opportunities that have demonstrated sustainable growth and digital scalability, it added.
Growth capital firm Playbook Partners has raised $130 million from a clutch of investors under its maiden $250-million growth capital fund.
The growth capital firm, founded by former Reliance Jio top executive Vikas Choudhury, has raised money from global investors from Europe, the US, Middle East, and India, the company said in a statement on Tuesday.
“Playbook Partners has marked a first close within four months having raised over $130 million through established global investors,” it said.
In response to strong institutional investor interest, the fund is using the green-shoe option and can grow up to $250 million, Playbook Partners said.
Playbook will partner with tech-enabled businesses targeting large market opportunities that have demonstrated sustainable growth and digital scalability, it added.
Vikas Choudhury, Founder & Managing Partner, Playbook, said, “Powered by a 5x growth in the digital economy to over $1 trillion, India will account for over 15 per cent of the entire global economic growth over the next decade.” Choudhury has two decades of investing experience and his portfolio includes 10 unicorns, IPOs and exits such as InMobi, Myntra, Fractal, PolicyBazaar, Nazara, among others.
Mumbai-based Playbook is an operator-driven capital firm which invests in growth-stage, tech-enabled businesses. Its operating partners include Manish Choksi of Asian Paints, Aakash Chaudhry of Aakash Education and Milan Sheth (Ex Automation Anywhere) in personal capacity or through family offices, according to the release.
First Published: Sep 10 2024 | 5:38 PM IST
