Sorin Investments, an early-stage venture firm founded by former KKR India chief executive Sanjay Nayar, has made the final close of its maiden fund at ₹1,350 crore ($162 million), The Economic Times reported.
KKR co-founder Henry Kravis, Hero Group’s Munjal family, and Hong-Kong based Caraval group’s Banga family are among key investors.
Sidbi-sponsored Fund of Funds for Startups (FFS) scheme and a startup fund set up by the Uttar Pradesh state also took part, ET reported.
State Bank of India subsidiary SBICAP Ventures’ Self-Reliant India (SRI) Fund also backed the fund, which invests in early-stage tech start-ups in India. It made the first close in 2022 at ₹800 crore ($96 million), followed by the second close at ₹1,000 core ($120 million) last year.
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