- Kedaara Capital, co-founded by Manish Kejriwal, Sunish Sharma, and Nishant Sharma, is planning to raise a $200-300 million continuation fund to support at least two of its prized assets.
- This move aligns with a growing trend among private equity firms to retain successful portfolio companies that need additional time beyond the typical fund cycle to realize their full potential.
- Kedaara Capital’s decision mirrors actions taken by other notable PE firms such as Multiples Alternate Asset Management Pvt. Ltd and ChrysCapital, both of which have launched their continuation funds in the past year.
- Founded in Mumbai, Kedaara manages assets worth over $6 billion across various sectors, including financial services, consumer goods, pharmaceuticals, healthcare, and technology.
Why it matters: The emergence of continuation and secondary funds is indicative of an evolving market in India, which, while still nascent, is beginning to play a significant role globally. As the market matures, it is expected that the trend toward secondary transactions and continuation vehicles will continue to grow, offering alternative exit routes for investors and additional time for high-potential companies to achieve their goals.
- Noida-based astrology platform AstroTalk is in discussions to raise USD 50 million in a new funding round, which will elevate the company to unicorn status, valuing it between USD 1.3 to 1.5 billion.
- This new round, led by a combination of existing and new investors including Tier I venture capital and private equity players, is expected to be AstroTalk’s last private fundraising before going public.
- Founded in 2017 by Puneet Gupta, AstroTalk has emerged as India’s leading digital astrology service provider, connecting users with over 45,000 spiritual practitioners.
- AstroTalk’s valuation surge is backed by its impressive financial growth over the last two years, generating INR 1,182 crore in revenue and over INR 250 crore in net profit in the most recent fiscal year.
Why it matters: AstroTalk’s planned IPO would be a historic milestone as the first venture-funded astrology platform in India to go public. This move comes amid renewed investor interest in profitable tech startups, particularly in consumer-facing sectors. Should the IPO succeed, AstroTalk would join other Indian unicorns of 2025 such as Jumbotail, Drools, Porter, and Netradyne.