Investment from International Finance Corporation in A91 Partners
The International Finance Corporation (IFC), a crucial component of the World Bank Group, is contemplating a financial investment in the third fund of venture capital firm A91 Partners, as revealed in a notice on the firm’s platform.
IFC’s potential investment could reach as high as $35 million directly, with an additional $30 million earmarked for co-investments.
As stated in the announcement, A91 Partners is on a mission to secure a total of $675 million for this new fund. This fund will primarily aim to bolster small and medium-sized enterprises across various sectors, including consumer goods, financial services, healthcare, manufacturing, and technology. Typically, each investment is projected to fall between $10 million and $50 million, supporting approximately 15 companies.
Established in 2018 and headquartered in Mumbai, A91 Partners successfully attracted $350 million for its inaugural fund and $550 million for its second fund.
A91 Partners has diversified its investment approach, engaging in sectors like coffee, masalas, and household appliance brands, including Atomberg. The firm played a pivotal role in a $30 million Series B funding round for Blue Tokai Coffee Roasters, a prominent coffee brand. Their portfolio features notable companies such as Digit Insurance, news aggregator Inshorts, cosmetics line Sugar, software platform Exotel, healthkart, Paper Boat, and Plum, among others.
Notably, one of their portfolio companies, Go Digit General Insurance, made its public debut last year.
