– New VC Firm: Vikas Choudhury, former President of Jio, has launched a new venture capital firm called Playbook Partners.
– First Close: Playbook Partners announced the first close of its maiden fund at $130 million.
– Fund Target: The fund aims to reach a final close at $250 million.
– Investment Focus: The firm plans to invest in tech-led businesses across sectors like healthcare, climate change, and SaaS.
– Leadership Team: Besides Choudhury, the leadership team includes ex-McKinsey executive Dushyant Singh , and Sumit Jain from Sistema Asia Capital.
– Investor Interest: The first close was achieved within four months due to strong interest from institutional investors in Europe, the US, the Middle East, and India.
– Growth Stage Focus: Playbook Partners will target mid-market, tech-enabled companies operating at the growth stage, typically generating between $12 million to $24 million in revenue.
– Investment Strategy: The firm plans to lead or co-lead investment rounds, with an average ticket size of $10 million to $20 million per investment.
– Pipeline: Playbook Partners currently has over 200 startups in the pipeline and is preparing to make its first investment in the coming weeks.
– SEBI Approval: The fund is registered as a SEBI-approved Category II alternative investment fund at Gift City in Gandhinagar, India.
