- The India-focused development stage fund now goals to shut the fund at INR 2,000 crore in 2025
India, 22 April 2025 – Former senior funding professionals from Premji Make investments and Worldwide Finance Company, Atul Gupta, Rajesh Ramaiah and Pravan Malhotra have introduced a formidable ~INR 1,000+ crore first shut of Trident Progress Companions’ maiden fund, reaching their goal corpus after getting their AIF license in July 2024, and at the moment are exercising the greenshoe possibility to lift one other ~INR 1,000 crores.
The three Managing Companions have a mixed funding expertise of fifty+ years, with Atul Gupta and Rajesh Ramaiah investing collectively at Premji Make investments for 13 years and sharing a 10-year historical past with Pravan Malhotra.
They’ve actively invested in category-leading Indian firms that embody Policybazaar, KreditBee, Myntra, Lenskart, Flipkart, Purplle, FirstCry, BigBasket, Amagi, Pixis, Lambdatest, Moglix, Finest Worth Chemical compounds, Gold Plus Glass, MedPlus and NephroPlus. Of their 40 prior investments, 14 turned unicorns and eight had IPOs/M&A.
Trident Progress Companions will lead or co-lead Sequence B+ investments in fast-growing class leaders for a big minority stake. Whereas sector agnostic, the fund’s funding themes embody Shopper, Monetary Providers, Enterprise Know-how, Manufacturing and Healthcare.
Trident Progress Companions has been supported by Claypond Capital, the household workplace of Dr Ranjan Pai, Chairman of Manipal Group, Fund of Funds for Startups (managed by SIDBI) and Self Reliant India Fund (SRI), together with 30+ founders of high-profile firms together with Lenskart, PolicyBazaar, Persistent Techniques, Livspace, KreditBee, Amagi, Netcore, Addverb, Sagar Cements, and Triveni Polymers. Main household places of work and common companions of distinguished funds are additionally buyers within the fund.
With the group’s prior operational expertise at Wipro, Reva Electrical, Utilized Supplies and Lam Analysis, together with their experience in advising a number of firms with IPOs, M&A and capital markets, the main focus of the agency can be to assist founders construct long-term, worthwhile companies with sturdy governance.
The Managing Companions intend to have interaction intently with their portfolio firms by leveraging their founder community to offer mentorship to their portfolio founders, together with an skilled working companion community that may help firms with key useful help as they scale up.
“At Trident Progress Companions, our group’s in depth funding expertise throughout market cycles offers us with a novel perspective on macro and sectoral developments.
We provide extra than simply funding, bringing deep working expertise, a founder-first mindset, and a sturdy community to help firms of their development journey.
Our focus is on backing resilient, growth-stage firms with sturdy unit economics that prioritize sustainability and governance”, famous Atul Gupta, Managing Accomplice.
Trident Progress Companions has already accomplished its first funding by co-leading the Sequence B spherical in Spotdraft, a number one SaaS firm within the Contract Lifecycle administration house and is within the remaining stage of closing its second funding.
The fund has a powerful pipeline of investments throughout its key themes and expects to make just a few extra investments this 12 months.
About Trident Progress Companions LinkedIn
Trident Progress Companions is an Indian growth-stage non-public fairness agency targeted on investing in category-leading firms with sturdy fundamentals and sustainable enterprise fashions.
Our fund is backed by marquee buyers and establishments together with giant household places of work and 30 + founders / entrepreneurs who’ve efficiently constructed and scaled companies.
At Trident Progress Companions, we’re not simply buyers; we’re long-term strategic companions to visionary administration groups.
Our focus is to construct sustainable, category-leading companies with a eager eye on unit economics and a transparent path to profitability. Leveraging over 50 years of mixed funding expertise and a sturdy community of profitable founders and trade consultants, we endeavour to create substantial worth for our portfolio firms and delivering distinctive returns for our buyers.
Disclaimer:- This story has not been edited by SugerMint employees and offered by the company. SugerMint won’t be accountable in any approach for the content material of this story.
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