IFC proposes $65Mn Investment Into A91 Partners’ third Fund

The International Finance Corporation (IFC), part of the World Bank Group, is considering investing in venture capital firm A91 Partners’ third fund, according to a disclosure on IFC’s website. 

IFC plans to invest up to $35 million in equity and an additional $30 million in co-investment. A91’s new fund aims to raise $675 million, making it its largest fund so far.

The fund will support small and mid-sized companies in consumer, financial services, healthcare, manufacturing, and technology sectors. It plans to invest between $10 million and $50 million in 15 companies.

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Founded in 2018, Mumbai-based A91 raised $350 million for its first fund and $550 million for its second. Its portfolio includes dairy startup Akshayakalpa, coffee brand Blue Tokai, and beauty brand Sugar. 

Insurance firm Go Digit, its another portfolio company, went public last year.

IFC’s investment comes as Indian VC firms are actively raising funds. In January, Accel launched a $650-million India-focused fund, while Bessemer Venture Partners recently set aside $350 million for its second India fund.

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