India-based Growth Capital (GC) firm, Playbook Partners has marked a first close within four months having raised over $130 million through established global investors from Singapore, Europe, US, Middle East, and India.
In response to strong institutional investor interest, the fund is using the green shoe option and can grow up to $250 million.
Playbook will partner with growth-stage, tech-enabled businesses in large addressable markets that have meaningful scale, healthy operating margins and high growth, the company said in a statement on Tuesday.
Playbook is founded and led by senior professional, entrepreneur and investor Vikas Choudhury, who has held leadership roles at multinational public companies including Reliance Jio and Aimia Inc, bringing vast experience in scaling large global and Indian businesses profitably in the digital economy.
His long-standing investment portfolio includes 10 unicorns, IPOs and exits such as inMobi, Myntra, Fractal, Nazara, PolicyBazaar, Rapido, amongst other marquee companies.
Vikas Choudhury, Founder & Managing Partner, Playbook, said, “Powered by a 5x growth in the digital economy to over $1 Trillion, India will account for over 15% of the entire global economic growth over the next decade. Our purpose is to fuel India’s aspirational growth and transformation at scale.”
Playbook is an operator-driven GC firm with leadership comprising seasoned entrepreneurs and professionals who have built, scaled, listed and exited multi-billion-dollar companies.
The fund’s intrinsically embedded industry representation includes operating partners Manish Choksi (Asian Paints), Aakash Chaudhry (Aakash Education) and Milan Sheth (Ex Automation Anywhere), who have all come in through their family offices or in their personal capacity.
The company said its deep, localized understanding across markets, sectors and life cycles – as operators, advisors and investors – brings a compelling edge to growth investing and value creation for digital India.
Playbook Partners is an operator-driven Growth Capital (GC) firm for Digital India. Headquartered in Mumbai, it invests in growth-stage, tech-enabled businesses that have demonstrated positive unit economics and are sustainably scaling to market leadership, according to the statement.