Snapdeal founders Kunal Bahl and Rohit Bansal’s venture capital firm Titan Capital, has raised Rs 200 crore (around $23.8 million) for its Winners Fund floated earlier this year.
Registered as a category-II alternative investment fund (AIF), Titan Capital Winners Fund has raised capital from external investors and will focus towards making follow-on bets in breakout companies it invested in during seed stages.
Bahl and Bansal will anchor the fund as its largest investors.
The VC firm has also garnered commitments from family offices, chief executives and founders of leading companies, and key figures from the VC landscape, it said in a statement.
Additionally, Titan is likely to tap its greenshoe option of another Rs 100 crore, beyond its target.
"We do have a lot more demand, so we may leverage the greenshoe selectively. A select number of limited partners are expected to be added via the optional greenshoe,” the firm said.
“With the Titan Capital Winners Fund, we can support the founders of our portfolio companies in subsequent rounds of capital raises, further strengthening Titan Capital's partnership with them,” Bahl and Bansal said.
These companies include Jupiter, Agrostar, Bira91, DotPe, Giva, Shadowfax, Khatabook, among numerous others.
The fund comes on the back of Titan Capital’s multiple successful exits from startups such as Unicommerce, Mamaearth, Ola Cabs, Urban Company recently. Its portfolio includes unicorns such as Razorpay, Ofbusiness, Dealshare, Cart.com, Snapdeal among others.
The two entrepreneurs have been investing since 2011 before they officially set up Titan Capital and have backed over 250 early-stage companies.