Insight Partners eyeing deeper presence in India: MD Nikhil Sachdev
- ByStartupStory | July 2, 2022
Global venture capital firm Insight Partners is likely to increase its pace of investments in India, a top executive told ET. The firm has so far deployed nearly $1 billion in the country. Insight has backed companies such as Cred, CredAvenue, Rattle, FanCraze and M2P. “Most recently, we announced our investment in AppSmith,” Sachdev, who joined Insight in 2020 to help lead investments in software, fintech, and crypto companies, added.
Insight has mopped up $20 billion in a new global fund that it raised earlier this year. Globally, it counts Slice, ezCater and Linktree among its portfolio firms. It is one of the most active software and technology investors globally and has more than $90 billion in total assets under management.
There are many second- or third-time founders in India, in addition to founders who have worked across the globe, bringing that perspective into the market. “Additionally, the talent and innovation that has developed in India in recent years is only going to multiply with the growing economy and competitive startup ecosystem. We’ll continue to partner with our existing investments as they scale up and explore new investment opportunities with a focus on Global SaaS and fintech,” Sachdev added.
Insight and global peers such as Sequoia Capital, Accel NSE -2.06 % and Matrix Partners have been deepening its India presence and have mopped up larger pools of capital to be deployed in the region. Sequoia India said last month that it had raised $2.85 billion across three funds to invest in the Indian and Southeast Asian markets. Sequoia will merge its seed-stage fund Surge into its venture vehicle allocation of $300 million, ET reported earlier.
Accel India has mopped up $650 million, while Elevation Capital (formerly Saif Partners) raised its largest ever fund at $670 million.
Lightspeed Venture Partners is also in the process of closing its $500 million fund to invest in India and SEA, while Matrix Partners has filed to raise a $450 million India-focused fund.
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