Playbook Partners has raised $130 million from a group of investors for its inaugural $250 million growth capital fund. The growth capital firm, created by former Reliance Jio executive Vikas Choudhury, has raised funds from worldwide investors in Europe, the United States, the Middle East, and India, according to a company release on Tuesday.
"Playbook Partners has marked a first close within four months having raised over $130 million through established global investors," according to the statement.
In response to substantial institutional investor demand, Playbook Partners said the fund is using the green-shoe option and has the potential to grow to $250 million. Playbook will collaborate with tech-enabled organizations seeking huge market possibilities that have demonstrated long-term growth and digital scalability, it said.
Vikas Choudhury, Founder & Managing Partner at Playbook, stated, "Powered by a 5x growth in the digital economy to over $1 trillion, India will account for more than 15% of global economic growth over the next decade." Choudhury has two decades of investing experience and owns 10 unicorns, IPOs, and exits, including InMobi, Myntra, Fractal, PolicyBazaar, and Nazara, among others.
Playbook Capital, based in Mumbai, is an operator-driven capital firm that invests in growth-stage, technology-enabled enterprises. According to the statement, its working partners include Manish Choksi of Asian Paints, Aakash Chaudhry of Aakash Education, and Milan Sheth (Ex Automation Anywhere), all of whom work personally or through family offices.
