Sanjay Nayar Sets Up $135 Million Early Stage Tech Fund

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Sanjay Nayar Sets Up $135 Million Early Stage Tech Fund
03 Jun 2022
6 min read

News Synopsis

Sanjay Nayar, a veteran banker, and dealmaker, is launching a new fund to invest in Early Stage technology start-ups as the India chairman of private equity behemoth KKR seeks to fill a financing gap created by global institutional venture capital firms' cautious attitude toward India risks.

Sorin Investments, a firm created by Sanjay Nayar, will raise up to $135 million to invest in Indian IT and technology startups. The fund recently completed its first $100 million closings.

Nayar's early-stage fund comes at a time when the stream of venture funding directed at Indian firms in recent years has dried up, and global investors such as Sequoia Capital warn entrepreneurs about volatile financial markets.

Nayar said, “The India startups have demonstrated their abilities and showcased where it can be, because of an ecosystem in India which promotes startup and innovation culture. The government has created a very healthy startup and innovation environment, which combined with a huge focus on digitisation of the economy, is what will encourage digital consumption and tech-enabled business models. But the system needs patient local institutional capital. More importantly, most of these first-generation entrepreneurs are brilliant, but need guidance on building sustainable businesses. What we are planning is to create a platform that will help these companies to graduate to the next level of their lives.”

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