A Singapore-based digital investment company called Panthera Growth Partners (PGP) said that it had successfully raised more than half of the US $250 million objectives for its second fund. By the end of this year, the company plans to finish paying the remaining sum.
Up to 100 percent of the pledges from the second fund, Fund II, would be made available for co-investment possibilities.
PGP’s Fund I, which was launched last year and had a corpus of US $84 million, was the predecessor of the new investment vehicle. The initial fund was used to support a variety of firms, including the AI platform Antuit, the online grocery store BigBasket, the furniture marketplace Pepperfry, and the women’s lingerie website Zivame.
PGP intends to use Fund II to finance growth-stage businesses in India and Southeast Asia that have established product-market fit. A dozen or so portfolio businesses will get investments, with checks averaging $20 million apiece.
Shilpa Kulkarni established PGP, an investment company that focuses solely on scalable and money-making IT firms, in 2021. Institutional investors from India, the EU, and the US have joint ventures with the company.
“With our teams’ experience of investing and operating companies in the startup ecosystem for more than two decades, we look to support entrepreneurs and management teams as they embark on an ambitious growth journey,” Kulkarni said in a statement.
