Sanjay Nayar, a seasoned private equity investor, and Angad Banga of the Hong Kong-based Caravel company launched Sorin Investments, a tech fund. According to Nayar and Banga in an interview, the first close of Sorin Investments’ first fund brought in $100 million from a number of family offices.
The fund has started analysing investment opportunities and plans to raise up to $130 million, with a “greenshoe option” of $30 million.
Henry Kravis, a co-founder of KKR, and Sunil Kant Munjal, the chairman of Hero Enterprise, together with a few other international and Indian family offices, participated in the fund’s inaugural closure.
“We’ve got seven to eight families to invest in the first close of the fund, both local and international, including Henry Kravis and Sunil Munjal. We will be investing from early series A to early series C,” said Nayar. (according to mint)
