Singapore-based investment firm Panthera Growth Partners (PGP) today announced the first close of its second Fund, having secured commitments for more than half of the target raise.
The fund expects to raise the whole expected target by the end of this financial year and will offer up to 100% commitments in co-investment opportunities.
PGP said that it will invest in companies that have achieved product-market fit and are looking to accelerate market growth. It will deploy up to USD 20 million on an average in 10-12 companies across India and Southeast Asia.
“We are a growth equity investor focused on revenue-generating enterprises that are building scalable businesses having achieved product-market-fit. With our team’s experience of investing and operating companies in the ecosystem for more than two decades, we look to support entrepreneurs and managements as they embark on their ambitious journeys,” said Shilpa Kulkarni, founder and managing partner, Panthera Growth Fund.
Founded in 2021, its maiden Fund I raised USD 84 million from global investors which was largely deployed across different sectors with investments in companies like Bigbasket, Pepperfry, Zivame and Ofbusiness, among others.
Backed by institutional investors from India, EU and USA, Fund II will seek to back entrepreneurs who typically employ market transformational ideas propelled by technology.
Panthera was founded in 2021 and has emerged as a sector specialist investment firm investing exclusively in cutting-edge technology leveraged businesses.