July 9, 2024: Trident Growth Partners (India), a new venture capital firm aimed at accelerating startups across various sectors has been launched by Atul Gupta, formerly a partner at Premji Invest. The firm reportedly plans growth stage equity investments ranging from $15 million to $20 million per deal, to provide substantial support to startups poised for expansion.
Reportedly, the VC firm Trident Growth Partners has set an initial target corpus of $200 million to $250 million, to drive sustainable growth across diverse industries.
The firm, co-founded with Rajesh Ramaiah from Premji Invest and Pravan Malhotra from Malacca Ventures, plans to invest strategically in consumer, financial services, enterprise software and technology, industrial and manufacturing, and healthcare sectors.
Gupta announced the venture on LinkedIn, expressing his excitement about transitioning from a successful stint at Premji Invest to a new entrepreneurial journey. His tenure at Premji Invest was marked by significant contributions to companies like Policybazaar, Lenskart, and Flipkart, many of which have achieved Unicorn status.
Trident Growth Partners contributing to the success of innovative companies and helping them achieve their full potential
“In my 15 years at Premji Invest, I had the privilege to work closely with remarkable founders and management teams,” Gupta stated. “This experience has equipped me with invaluable insights into scaling startups.”
Gupta’s move follows a trend of seasoned fund managers and partners leaving established VC firms to launch independent ventures. Recent notable exits include Piyush Gupta from Peak XV and venture partners from Lightspeed, signaling a dynamic shift in the VC landscape.
According to industry reports, 2023 witnessed the announcement of 64 new funds, totaling over $5.6 billion in investments. This reflects a robust ecosystem for venture capital despite a decrease from 126 funds raising $18 billion in 2022.
Trident Growth Partners (India) aims to leverage Gupta’s extensive experience and network to nurture promising startups through strategic investments. The firm’s collaborative approach with entrepreneurs aims to foster innovation and sustainable growth across India’s burgeoning startup ecosystem.
