With intentions to invest $500 million over the next two years, mostly into growth and late-stage startups, domestic financial investors Oister Global and Tribe Capital India have teamed up to launch their secondary franchise in India.
Oister Global reports that in the previous four to five years, $7.7 billion in transactions have taken place through secondary deals. Comparable to the total funds raised during the same period via IPO exits is this figure.
The franchise hopes to profit from the rising demand in India for secondaries, which are seen by early investors—including angel and micro-VCs—as a profitable means of exiting their investments. Secondary buyouts facilitate new investors’ access to promising startups while offering liquidity to current shareholders.
Media-compiled data indicates that there have been more secondary transactions in 2024. The largest gainers from secondary transactions include, but are not limited to, Lenskart, Meesho, Shadowfax, Fibe, Wow! Momo, Porter, Purplle, Visit Health, and Urban Company.
Among the businesses in Tribe Capital India’s portfolio are Apollo.io, Shiprocket, Blackbuck, and Docker. It is purportedly considering investing in Zypp Electric, Rivigo, and BatterySmart.
Prior to this, Oister Global supported debt and venture equity funds like Stride Ventures and Blume Ventures.
