Capria Ventures Closes India Opportunity Fund At INR 153 Cr Post Awign Exit

Apax Partners Eyeing To Scale Up Its India Investments With New Team

SUMMARY

Japan-based Mynavi has acquired majority stake in Awign, giving exit to Capria Ventures and other investors

“The multiple on invested capital for Awign for our India Fund II is >7x,” said Surya Mantha, Managing Partner at Capria Ventures

Betterplace Solutions, Masai School, Cuemath among others are portfolio companies of Capria Ventures

Betteplace Solutions backer Capria Ventures has announced the successful completion of fundraising for its India Opportunity Fund at INR 153 Cr.

This comes on the backdrop of Capria Ventures making a full-cash exit from one of its portfolio companies – Awign.

Earlier today, Bengaluru-based Awign announced that a Japan-based HRtech platform Mynavi Corporation has bought a majority stake in the company in an all-cash deal, without disclosing the transaction details.

This buyout resulted in the complete exit of Capria Ventures, along with other investors.

On the exit, Surya Mantha, Managing Partner at Capria said, “….Mynavi’s acquisition of Awign not only opens untapped markets and opportunities for the company but is also a great exit for our India Fund II, where we will return more than 50% of the invested capital through this one exit. The multiple on invested capital for Awign for our India Fund II is >7x.”

Early last year, Capria marked the first close of its India Opportunity Fund at INR 75 Cr. Back then, it was announced as Unitus Ventures India Opportunity Fund. Later in 2023 Capria and Unitus joined forces to operate as a single brand, Capria.

To date, Capria Ventures through its first and second fund has invested in early stage startups, including Awign, BetterPlace, Cuemath, Eduvanz and Masai. The VC firm focuses on sectors such as fintech, HRtech, agritech, climatetech and SaaS.

Capria has offices in Seattle, Bangalore, Buenos Aires, Nairobi, Jakarta, Mexico City and Washington DC. It manages assets exceeding $207 Mn.

Earlier this week, PE firm Kedara Capital has marked the final close of its fourth investment vehicle, Kedaara IV, at a whopping $1.73 Bn, making it the largest PE fund.

Kedara would use the fresh capital to invest in sectors across banking, healthcare, consumer and SaaS. In addition, Kedaara Capital will scout both minority stakes and complete acquisition deals.

Another VC firm, Norwest Ventures, this week announced the close of its 17th fund at $3 Bn.

Called NVP 17, the multi-stage fund will invest in startups across sectors such as enterprise tech, consumer and healthcare in three focus markets – India, Israel, and the US.