Sorin Investments maiden fund garners Rs 10 billion
ECONOMY & POLICY

Sorin Investments maiden fund garners Rs 10 billion

Sorin Investments, a fund focused on technology, and co-founded by Sanjay Nayar and Angad Banga, who were formerly associated with KKR India and have experience in private equity, has successfully secured a fund of more than Rs 10 billion for the second phase of their debut fund. In the previous year, they had gathered approximately Rs 8 billion during the initial phase of fundraising.

The collection of funds by the technology-centric investment firm has occurred at a point when the Indian technology startup ecosystem is confronting a shortage of funding. This scarcity has led numerous investors to decrease the valuations of prominent Indian tech companies.

The fund comprises investments from Henry Kravis, George Roberts, and other associates of the American global investment company KKR & Co, along with Sunil Kant Munjal, the chairman of Hero Enterprise, and a selection of other international and Indian family offices.

Sanjay Nayar and Angad Banga, who had previous ties to KKR, have established Sorin. Sanjay Nayar initiated Sorin after spending forty years in the fields of banking and private equity.

The fund's emphasis is on startups in the early stages of technology across diverse sectors such as fintech, edtech, software as a service (Saas), logistics, clean technologies, and direct-to-consumer products and brands. Their goal is to make investments ranging from $2-10 million in their target companies.

Also read: 
Honer Homes unveils Rs 30 bn mega project, Honer Signatis
Provident Housing launches Rs 20 bn Sustainable Living Project

Sorin Investments, a fund focused on technology, and co-founded by Sanjay Nayar and Angad Banga, who were formerly associated with KKR India and have experience in private equity, has successfully secured a fund of more than Rs 10 billion for the second phase of their debut fund. In the previous year, they had gathered approximately Rs 8 billion during the initial phase of fundraising. The collection of funds by the technology-centric investment firm has occurred at a point when the Indian technology startup ecosystem is confronting a shortage of funding. This scarcity has led numerous investors to decrease the valuations of prominent Indian tech companies. The fund comprises investments from Henry Kravis, George Roberts, and other associates of the American global investment company KKR & Co, along with Sunil Kant Munjal, the chairman of Hero Enterprise, and a selection of other international and Indian family offices. Sanjay Nayar and Angad Banga, who had previous ties to KKR, have established Sorin. Sanjay Nayar initiated Sorin after spending forty years in the fields of banking and private equity. The fund's emphasis is on startups in the early stages of technology across diverse sectors such as fintech, edtech, software as a service (Saas), logistics, clean technologies, and direct-to-consumer products and brands. Their goal is to make investments ranging from $2-10 million in their target companies. Also read:  Honer Homes unveils Rs 30 bn mega project, Honer Signatis Provident Housing launches Rs 20 bn Sustainable Living Project

Next Story
Infrastructure Energy

Crompton Wins Rs 1 Billion Solar Pump Order from MEDA

Crompton Greaves Consumer Electricals has secured a Rs 1 billion order from the Maharashtra Energy Development Agency (MEDA) for the design, manufacture, and installation of 4,500 off-grid solar photovoltaic water pumping systems across Maharashtra.The order, awarded under Component B of the PM-KUSUM scheme launched by the Ministry of New and Renewable Energy, represents Crompton’s largest-ever solar pumping systems contract in the solar-water management segment.The project scope includes the supply, installation, testing, commissioning, and five-year maintenance of the solar pumps at variou..

Next Story
Infrastructure Energy

ACME Solar Adds 19.8 MW Wind Power in Gujarat

ACME Solar Holdings Ltd has announced the commissioning of an additional 19.8 MW of wind power capacity at its Shapur project in Gujarat, bringing its total operational renewable energy portfolio to 2,826.2 MW.In May, the company had commissioned 26.4 MW of the planned 50 MW wind project. With the current phase contributing another 19.8 MW, the total installed capacity at Shapur now stands at 46.2 MW.The project is nearing full completion and is expected to be entirely commissioned in the coming days, the company stated.With this addition, ACME Solar continues to strengthen its presence in the..

Next Story
Real Estate

WeWork India Expands With New Centres in Pune, Chennai

Workspace solutions provider WeWork India has announced the leasing of two new centres: WeWork EON Free Zone in Pune and WeWork Ramanujan Intellion Park in Chennai. Together, the new locations will add 200,000 square feet of flexible workspace to its portfolio and are scheduled to open in the second half of FY25.This move marks WeWork India’s third centre in Chennai, situated at the beginning of Old Mahabalipuram Road within the Littlewood Tower at Ramanujan Intellion Park. Spanning 150,000 square feet across three floors, the fully customised centre will offer 2,400 desks to accommodate ent..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?