Chiratae Ventures Fund Close: A $150 Million Boost for Tech Startups

Chiratae Ventures is one of the premier venture capital firms focusing on technology, and it has recently confirmed the second closure of its fifth venture capital fund, securing $150 million. The firm anticipates a final closure by the first quarter of 2026. This fund is designed to support early-stage startups across Seed, Series A, and Series B funding rounds.

The recent round attracted a diverse mix of investors, including domestic and international limited partners (LPs), institutional investors, family offices, and repeat supporters from previous Chiratae funds. Fund V is spearheaded by Managing Directors Venkatesh Peddi and Ranjith Menon, who will oversee investments in the firm’s key target sectors.

Founded by Sudhir Sethi and T.C. Meenakshisundaram (TCM), Chiratae Ventures has created its investment strategy around discovering significant opportunities where technology can have a population-scale impact. With the introduction of Fund V, Chiratae intends to broaden its focus on sectors such as AI, deeptech, healthtech, consumertech, fintech, SaaS, climatetech, and spacetech, while also exploring emerging fields like DefenceTech and Quantum technologies.

Investment Strategy and Focus Areas

The firm has already initiated capital deployment from the new fund into innovative startups including HouseEazy (proptech), Pepsales (AI-enhanced B2B sales demonstrations), Mili (a meeting assistant tailored for wealth firms), and Zilo (a quick commerce fashion platform), alongside commitments to six additional companies that are in the pipeline.

Track Record of Success

With an impressive $1.3 billion in assets under management across seven funds, Chiratae Ventures has made 130 investments, exited over 50 times, developed 8 unicorns, and celebrated 4 IPOs. The firm has been an early supporter of well-known brands such as FirstCry, Myntra, Lenskart, Flipkart, PolicyBazaar, and Cult.fit.