Mumbai | Bengaluru: Reliance Industries<\/a>’ Jio Platforms<\/a> is finalising an investment of up to $200 million in domestic venture capital fund Kalaari Capital<\/a>, according to two people in the know of the matter. 孟买|班加罗尔:信实工业公司”Jio平台敲定一项高达2亿美元的投资在国内风险投资基金Kalaari资本据两个人知道的事。 Mumbai | Bengaluru: Reliance Industries<\/a>’ Jio Platforms<\/a> is finalising an investment of up to $200 million in domestic venture capital fund Kalaari Capital<\/a>, according to two people in the know of the matter.
The Mukesh Ambani-led conglomerate has closed a $100-million infusion, with an additional commitment of $100 million slated for later, said another person aware of the group's plans to deepen its footprint in India’s burgeoning technology sector.
“Kalaari Capital has communicated to multiple venture funds about racking up $100 million from Reliance<\/a>, with the rest of the capital…to come in over the next year,” said one of the persons cited above, who did not want to be identified as the talks are private.
Vani Kola-led Kalaari Capital will look to raise the second tranche over the next 12-18 months from either Reliance or external sponsors, a source privy to the development told ET. The venture capital firm gained prominence in the past decade by backing a string of e-commerce startups—including Snapdeal, Urban Ladder and Myntra—as well as unicorns such as online gaming platform Dream11<\/a>.
With Reliance backing Kalaari as its anchor investor or limited partner, the deal will emerge as one of the largest commitments by an Indian conglomerate in a venture capital firm.
In an emailed response to ET, a Reliance spokesperson said, “Reliance remains committed to supporting the build-up of a thriving startup ecosystem in India, particularly in digital enablement space, and will continue to explore various avenues to do so.”
Kalaari Capital did not respond to ET’s query till press time on Monday.
Bengaluru-based Kalaari has been in the market to raise its fourth fund for over a few years. In January 2019, Kola told ET in an interview<\/a> that the fund was targeting $200 million, but there was no subsequent announcement on fund closure.
Notably, the VC firm had last raised a fund in 2015, when it mopped up $290 million—its largest corpus—in the backdrop of a funding frenzy in the Indian startup ecosystem.
Reliance’s backing comes after some of Kalaari’s portfolio companies—including furniture retailer Urban Ladder<\/a> and lingerie retailer Zivame<\/a>—were acquired by units of Reliance Industries.
![\"\"](\"\/\/www.iser-br.com\/Themes\/Release\/images\/responsive\/ettelecom-default.jpg\")
Eye on the future<\/strong>
“Reliance’s investment in Kalaari will give the company an early line of sight into startups and upcoming sectors,” said one person aware of the deal. “RIL won’t necessarily acquire all the companies in which Kalaari invests, but it will certainly act as a discovery pipeline.”
Reliance will use a two-pronged approach to take over companies that fill gaps in its capabilities, while keeping an eye on potential areas of future growth through Kalaari, said another person, requesting anonymity.
Startup entrepreneurs are of the view that it is not a secret that Kalaari has grown close to Reliance Industries in recent years. “I don’t think entrepreneurs will perceive RIL’s backing as a bad thing, but Vani does have a troubled history with some of the founders of her portfolio companies, which may be an issue,” said one entrepreneur on the condition of anonymity.
Read also<\/h4>
<\/a><\/figure>Jio Platforms Q3 net profit up 15.5% on quarter; user churn rose due to 'malicious' campaign<\/a><\/h5><\/div>
<\/a><\/figure>Mukesh Ambani sold a tech dream for $27 billion. Now he has to deliver<\/a><\/h5><\/div><\/div><\/div>
A veteran investor, Kola is known for spotting startups operating in the consumer internet space, but for the past few years, has battled top-level churn as well as disagreements and fallouts with portfolio firms and founders.
ET reported in January<\/a> that Kalaari’s stake sale in hyperlocal grocery provider MilkBasket to Mahendra Nahata’s MN Televentures had foiled the startup’s plan to raise capital or explore an acquisition by any suitor apart from Reliance. Nahata is known to be an associate of Ambani and Reliance.
Kalaari, in its original avatar, was set up in 2006 when technology entrepreneur Kola, former Intel Corp Vice President Vinod Dham and former Intel executive Kumar Shiralagi launched a $190-million India fund backed by Silicon Valley venture capital firm New Enterprise Associates (NEA).
At the time, it was called NEA IndoUS Venture Partners, which became IndoUS Venture Partners when NEA decided to go solo in India after a few years. However, the final reordering happened in 2012, with Dham leaving and the fund being renamed Kalaari.
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穆克什Ambani-led集团关闭了1亿美元的注资,额外承诺1亿美元的计划后,说另一个人知道该组织的计划,深化其在印度的版图迅速发展的技术领域。
“Kalaari资本已经传达到多个风险基金取得了1亿美元依赖,与其他资本…在接下来的一年,”上面所提到的一个人说,他不想被确认为谈判是私有的。
与信实支持Kalaari锚的投资者或有限合伙人,该交易将成为最大的承诺,印度的一个企业集团的风险资本公司。
回复记者的电子邮件中,依赖的一位发言人说,“依赖仍然致力于支持一个蓬勃发展的创业生态系统的累积在印度,特别是在数字支持空间,并将继续探索各种途径。”
Kalaari资本没有回应等周一查询到新闻时间。
Bengaluru-based Kalaari已经在市场上提高其第四基金几多年。2019年1月,可乐告诉等在一次采访中基金是针对2亿美元,但没有后续公告基金关闭。
值得注意的是,风险投资公司在2015年提出一个基金,当它抹去290美元最大million-its语料库在印度创业融资热潮的背景下生态系统。
依赖的支持之后Kalaari的一些投资组合公司的家具零售商城市的梯子和内衣零售商Zivame收购单位的信实工业。
关注未来
“Kalaari信实的投资将给该公司早期的视线到初创企业和即将到来的行业,“意识到交易的一位人士表示。“瑞来斯不一定获得所有Kalaari投资的公司,但它肯定会作为发现管道。”
依赖将会使用一个双管齐下的方法来接管公司,填补空白的功能,同时密切关注潜在的未来增长领域通过Kalaari,另一个人说,要求匿名。
创业企业家认为,这不是一个秘密Kalaari信实工业近年来已近。“我不认为企业家认为瑞来斯的支持是一件坏事,但我们确实有一段不光彩的历史和一些她的投资组合公司的创始人,这可能是一个问题,”一位企业家在匿名的条件下说。
资深投资者,可乐闻名发现创业公司在消费者互联网运营空间,但在过去的几年里,与顶级生产以及分歧和消极后果与投资组合公司和创始人。
等1月报道Kalaari的股权出售的地方性食品提供者MilkBasket Mahendra Nahata MN Televentures挫败了一起创业的计划筹集资金或探索的收购任何追求者除了依赖。已知Nahata助理安巴尼和依赖。
Kalaari原来的《阿凡达》,成立于2006年,技术企业家可乐,英特尔(intc . o:行情)前副总统Vinod汉姆和前英特尔高管Kumar Shiralagi发起了一项1.9亿美元的印度基金支持的新企业协会硅谷风险投资公司(NEA)。
当时,它被称为NEA IndoUS合资公司合作伙伴,成为IndoUS Venture Partners当NEA决定独自去几年后在印度。然而,最后重新排序发生在2012年,离开,该基金被更名为Kalaari汉姆。
The Mukesh Ambani-led conglomerate has closed a $100-million infusion, with an additional commitment of $100 million slated for later, said another person aware of the group's plans to deepen its footprint in India’s burgeoning technology sector.
“Kalaari Capital has communicated to multiple venture funds about racking up $100 million from Reliance<\/a>, with the rest of the capital…to come in over the next year,” said one of the persons cited above, who did not want to be identified as the talks are private.
Vani Kola-led Kalaari Capital will look to raise the second tranche over the next 12-18 months from either Reliance or external sponsors, a source privy to the development told ET. The venture capital firm gained prominence in the past decade by backing a string of e-commerce startups—including Snapdeal, Urban Ladder and Myntra—as well as unicorns such as online gaming platform Dream11<\/a>.
With Reliance backing Kalaari as its anchor investor or limited partner, the deal will emerge as one of the largest commitments by an Indian conglomerate in a venture capital firm.
In an emailed response to ET, a Reliance spokesperson said, “Reliance remains committed to supporting the build-up of a thriving startup ecosystem in India, particularly in digital enablement space, and will continue to explore various avenues to do so.”
Kalaari Capital did not respond to ET’s query till press time on Monday.
Bengaluru-based Kalaari has been in the market to raise its fourth fund for over a few years. In January 2019, Kola told ET in an interview<\/a> that the fund was targeting $200 million, but there was no subsequent announcement on fund closure.
Notably, the VC firm had last raised a fund in 2015, when it mopped up $290 million—its largest corpus—in the backdrop of a funding frenzy in the Indian startup ecosystem.
Reliance’s backing comes after some of Kalaari’s portfolio companies—including furniture retailer Urban Ladder<\/a> and lingerie retailer Zivame<\/a>—were acquired by units of Reliance Industries.
Eye on the future<\/strong>
“Reliance’s investment in Kalaari will give the company an early line of sight into startups and upcoming sectors,” said one person aware of the deal. “RIL won’t necessarily acquire all the companies in which Kalaari invests, but it will certainly act as a discovery pipeline.”
Reliance will use a two-pronged approach to take over companies that fill gaps in its capabilities, while keeping an eye on potential areas of future growth through Kalaari, said another person, requesting anonymity.
Startup entrepreneurs are of the view that it is not a secret that Kalaari has grown close to Reliance Industries in recent years. “I don’t think entrepreneurs will perceive RIL’s backing as a bad thing, but Vani does have a troubled history with some of the founders of her portfolio companies, which may be an issue,” said one entrepreneur on the condition of anonymity.
Read also<\/h4>
<\/a><\/figure>Jio Platforms Q3 net profit up 15.5% on quarter; user churn rose due to 'malicious' campaign<\/a><\/h5><\/div>
<\/a><\/figure>Mukesh Ambani sold a tech dream for $27 billion. Now he has to deliver<\/a><\/h5><\/div><\/div><\/div>
A veteran investor, Kola is known for spotting startups operating in the consumer internet space, but for the past few years, has battled top-level churn as well as disagreements and fallouts with portfolio firms and founders.
ET reported in January<\/a> that Kalaari’s stake sale in hyperlocal grocery provider MilkBasket to Mahendra Nahata’s MN Televentures had foiled the startup’s plan to raise capital or explore an acquisition by any suitor apart from Reliance. Nahata is known to be an associate of Ambani and Reliance.
Kalaari, in its original avatar, was set up in 2006 when technology entrepreneur Kola, former Intel Corp Vice President Vinod Dham and former Intel executive Kumar Shiralagi launched a $190-million India fund backed by Silicon Valley venture capital firm New Enterprise Associates (NEA).
At the time, it was called NEA IndoUS Venture Partners, which became IndoUS Venture Partners when NEA decided to go solo in India after a few years. However, the final reordering happened in 2012, with Dham leaving and the fund being renamed Kalaari.
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