SUMMARY
- Tribe Capital India and Oister Global launch a $500 million secondary-focused fund for growth and late-stage startups.
- The fund will capitalize on the $7.7 billion secondary market in India, offering liquidity to early investors.
- Beneficiaries of recent secondary deals include startups like Lenskart, Meesho, Urban Company, and Shadowfax.
Domestic financial investors Oister Global and Tribe Capital India have joined forces to launch a secondary franchise in India, with plans to invest $500 million over the next two years. This fund will primarily focus on growth and late-stage startups, aiming to tap into the increasing demand for secondary transactions in the Indian startup ecosystem.
Oister Global highlights that in the past four to five years, secondary deals in India have reached $7.7 billion, a figure comparable to the capital raised through IPO exits in the same period. The rising trend of secondary buyouts provides a crucial liquidity avenue for early investors such as angel investors and micro VCs, while allowing new investors access to high-potential startups.
This partnership between Oister Global and Tribe Capital India seeks to further capitalize on the evolving secondary market, which has seen significant traction in 2024. Some of the major beneficiaries of secondary transactions include Lenskart, Meesho, Shadowfax, Fibe, Wow! Momo, Porter, Purplle, Visit Health, and Urban Company, according to data from TheKredible.
Tribe Capital India’s investment portfolio includes companies like Apollo.io, Shiprocket, Blackbuck, and Docker, with additional interest in acquiring stakes in BatterySmart, Rivigo, and Zypp Electric. Meanwhile, Oister Global has a history of backing prominent venture equity and debt funds like Blume Ventures and Stride Ventures.
As secondary buyouts become an increasingly attractive exit strategy, this new fund is positioned to meet the growing demand and provide valuable liquidity to existing shareholders, fostering further growth in the Indian startup landscape.
