A91 Partners
Overview
A91 Partners is a prominent venture capital firm based in Mumbai, India, specializing in investments across consumer, financial services, technology, and healthcare sectors. Founded in 2018 by former Sequoia Capital India executives V.T. Bharadwaj, Gautam Mago, and Abhay Pandey, the firm has seen significant growth and success in the Indian venture capital landscape. As of April 2025, A91 Partners successfully closed its largest fund, valuing $665 million, underscoring its commitment to fostering growth-stage startups across various sectors.
Recent Developments
- April 2025: A91 Partners announced the final close of its third fund with a corpus of $665 million, aimed at backing growth-stage companies in multiple sectors including consumer goods, healthcare, financial services, and technology. The firm continues to expand its presence in the Indian startup ecosystem by supporting entrepreneurs in building enduring businesses.
- March 2025: The firm was in discussions with the International Finance Corporation (IFC), which planned to invest up to $35 million in A91's third fund.
- February 2025: A91 Partners participated in a funding round for Rare Rabbit, a premium fashion brand, along with other investors.
- January 2025: The firm announced that several of its portfolio companies, including Atomberg and Sugar Cosmetics, had shown significant growth, with additional capital raised for expansion and scaling operations.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2018 |
| Headquarters | Mumbai, India |
| Founders | V.T. Bharadwaj, Gautam Mago, Abhay Pandey |
| Assets Under Management (AUM) | Over $1.5 billion |
| Key Investors | International Finance Corporation, prominent family offices, and institutional investors |
| Industry | Venture Capital |
| Number of Employees | Approximately 50 |
Early History
A91 Partners was established in 2018 by three former managing directors of Sequoia Capital India. The firm was created with a vision of building a leading Indian investment firm that would focus on mid-stage investments. Leveraging their extensive experience and networks, Bharadwaj, Mago, and Pandey established A91 Partners to invest in sectors poised for explosive growth, including consumer tech, financial services, and healthcare.
Company Profile and Achievements
A91 Partners has positioned itself as a frontrunner in the Indian venture capital landscape by focusing on sectors with high growth potential. Its business model emphasizes providing patient capital, strategic insights, and operational support to its portfolio companies.
- Investment Strategy: The firm typically invests in Series B and C rounds with a ticket size ranging from $10 million to $50 million. It aims to nurture startups needing growth capital and strategic guidance.
- Notable Investments: The firm's portfolio includes successful startups like Sugar Cosmetics, Blue Tokai Coffee, and Digit Insurance, the latter of which went public last year.
- Growth and Expansion: Since its inception, A91 Partners has closed three major funds, with the recent $665 million fund setting new records in the industry.
- Collaborative Approach: The firm is known for its collaborative approach, working closely with founders to scale their businesses regionally and globally.
Current Operations and Market Position
A91 Partners operates from its headquarters in Mumbai, focusing on investments in high-growth areas of the economy. The firm has carved a niche in the Indian venture capital sector by prioritizing investments in startups with robust growth potential.
- Market Share and Positioning: With over $1.5 billion in AUM, A91 Partners is among the largest domestic venture capital firms in India, demonstrating strong market influence and investment prowess.
- Strategic Initiatives: The firm continues to strengthen its portfolio with strategic investments in cutting-edge technology and consumer startups, positioning itself favorably in the competitive VC landscape.
A91 Partners Founder
A91 Partners was founded by Abhay Pandey, V.T. Bharadwaj, and Gautam Mago, three former senior executives from Sequoia Capital India. Their tenure at Sequoia provided them with deep insights into the Indian startup ecosystem, which they leveraged to establish A91 Partners with a strategic focus on investing in enduring businesses.
A91 Emerging Fund I LLP
A significant milestone in A91 Partners' history is the establishment of the A91 Emerging Fund I LLP, which was one of the initial funds launched following the firm’s inception. This fund focused on early to mid-stage startups, leveraging the trio's expertise in scaling businesses across various sectors, including technology and consumer products.
Conclusion
A91 Partners stands out in the Indian venture capital industry as a leading investor in high-growth sectors. With a philosophy centered around patient capital and strategic partnership, it is well-positioned to continue influencing India's dynamic startup ecosystem. The firm's recent fund closings and strategic investments underscore its commitment to supporting innovative and scalable Indian businesses. As it moves into new territories, A91 Partners is likely to play a pivotal role in fostering the next generation of leading startups in India.