Domestic financial investors Oister Global and Tribe Capital India have announced the launch of a secondary franchise in India, with a significant commitment of $500 million set to be invested over the next two years. This fund is strategically aimed at growth and late-stage startups, addressing the growing demand for secondary transactions within the Indian startup ecosystem.
Oister Global has noted that secondary deals in India have reached $7.7 billion over the past four to five years, a figure on par with the capital raised through IPO exits during the same period. The increasing trend of secondary buyouts has provided essential liquidity for early investors, such as angel investors and micro VCs, while simultaneously granting new investors access to high-growth startups.
The collaboration between Oister Global and Tribe Capital India is poised to capitalize on the burgeoning secondary market, which has seen significant momentum in 2024. Key beneficiaries of secondary transactions include prominent startups like Lenskart, Meesho, Shadowfax, Fibe, Wow! Momo, Porter, Purplle, Visit Health, and Urban Company, as reported by TheKredible.
Tribe Capital India’s existing investment portfolio features companies such as Apollo.io, Shiprocket, Blackbuck, and Docker. The firm has also shown interest in acquiring stakes in BatterySmart, Rivigo, and Zypp Electric. Oister Global, on the other hand, has a history of supporting notable venture equity and debt funds like Blume Ventures and Stride Ventures.
As secondary buyouts emerge as an increasingly attractive exit strategy, this new fund is well-positioned to meet the rising demand, offering crucial liquidity to existing shareholders while fostering continued growth in the Indian startup landscape.
Key Highlights:
- $500M Fund Launched: Oister Global and Tribe Capital India have initiated a $500 million fund focused on secondary transactions in growth and late-stage startups.
- Rising Secondary Market: Secondary deals in India have reached $7.7 billion in recent years, matching IPO exit capital, and providing liquidity for early investors.
- Key Beneficiaries: Startups like Lenskart, Meesho, and Urban Company have benefited from secondary transactions, with the new fund aiming to expand these opportunities.