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Trifecta Capital Invests Rs 400 Cr

The Fund was launched in May this year with a target corpus of Rs 1,500 Cr. (~$200 million) and announced its First Close in July.

Trifecta Capital is delighted to announce investments of Rs. 400 Cr. (~$53 million) across four companies from its maiden equity fund, Trifecta Leaders Fund – I.

The Fund was launched in May this year with a target corpus of Rs 1,500 Cr. (~$200 million) and announced its First Close in July.

In line with its strategy to back growth to late-stage category-leading tech companies, the Fund has invested in ixigo, Good Glamm Group (MyGlamm), API Holdings (PharmEasy), and Meesho.

ixigo is a leading multi-modal travel platform targeting the Next Billion Users in India. The Fund is glad to partner with ixigo to empower their customers with trustworthy, personalized online booking solutions and several AI-based utility features such as train-tracking, platform updates, and hassle-free cancellations. The company has built a highly differentiated, customer-centric travel platform for Bharat. ixigo has already filed its DRHP with SEBI for its upcoming IPO. GIC invested in the pre-IPO round.

Good Glamm Group is a leading D2C (Direct-to-Consumer) beauty and personal care company with a unique content-to-commerce approach to broaden access to beauty products and build a thriving community of engaged users. The Fund is excited to support Good Glamm Group in creating a differentiated portfolio of high efficacy products best suited to address consumers’ beauty and personal care needs.

API Holdings (PharmEasy) is India’s leading omnichannel healthcare platform spanning medicines, diagnostics, consultation, and information. Beyond building an integrated platform for consumers, the company serves pharmacies with efficient procurement through its B2B platform. PharmEasy is truly category-leading and disrupting the healthcare industry – the Fund is proud to partner with the founders as they continue to execute their organic and inorganic growth ambitions. Pharmeasy is preparing to file a DRHP with SEBI for its upcoming IPO.

Meesho is India’s leading social-commerce company. The team is well on the path of attaining its bold vision of enabling 100 million+ small businesses, including individual entrepreneurs, to succeed online while becoming the preferred e-commerce destination for the Next Billion Users in the country.   

The presence of deep tech talent, a large consumer base, and favorable regulatory changes easing domestic listing of startups has created India’s thriving startup and tech ecosystem. With its unique heritage, access, expertise, and relationships in this maturing startup ecosystem, Trifecta Capital is well-positioned to be a reliable partner of choice for founders of growth to late-stage tech companies.

Lavanya Ashok, Partner, said, “Trifecta Capital is delighted to partner with these category-defining companies, solving unmet needs of Indian consumers in truly differentiated ways. Be it democratizing access or broadening choice for the next billion users, our companies are contributing strongly to the vibrant, tech-powered ecosystem in the country.”

Sandeep Bapat, Partner, said, “We are excited to be active market participants in the growth to late-stage VC ecosystem in India through the equity fund and are proud to be backing founders in these leading tech companies. Having already made four investments from the Fund, we aim to be trusted capital partners to founders as they build truly enduring businesses.”

Aloke Bajpai, Co-Founder & Group CEO of ixigo, said, “Trifecta has not only provided funding to ixigo but also introduced us to different pools of capital as we raised our pre-IPO round. The Fund closed the investment deftly and expediently, considering our DRHP filing timelines. They have been champions of ixigo throughout our journey and supported our inorganic growth plans with flexible capital – we are excited to formally have their support as an equity investor.” 

Darpan Sanghvi, Founder and CEO of Good Glamm Group, said, “Trifecta has strongly supported our vision of building India’s leading digital CPG conglomerate at Good Glamm Group. We appreciate Trifecta’s tailor-made solutions for our specific requirements. The equity funding from Trifecta was timely as it allowed us to execute on our aggressive growth plans with speed.”

Source: Business World

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