Vikas Choudhary, former Chairman of Reliance Jio and ex-Partner at Pivot Ventures, has launched a new venture capital (VC) firm, Playbook Partners.
After almost a year since he left Pivot Ventures, Choudhary’s Playbook Partners has emerged from stealth mode and announced its first close of $130 million (Rs 1,091 crore) as part of a planned $250 million (Rs 2,099 crore) fund.
The company raised the amount within four months of its inception, backed by strong interest from institutional investors across Europe, the United States, the Middle East and India.
Investment strategy and target sectors
Playbook Partners is an industry-agnostic fund with a specific focus on growth-stage and late-stage startups in Series B, C and D funding rounds.
The firm will focus on technology companies operating in sectors such as healthcare, climate change and software as a service (SaaS), with an emphasis on companies with strong business fundamentals and healthy operating margins.
The firm is currently evaluating more than 200 potential investments and plans to make its first investment in the coming weeks.
Explaining the fund’s strategy, Choudhary said, “We will invest in technology-first, growth-stage companies that have demonstrated strong business potential and are operating with a revenue base of Rs 100-200 crore.”
He added that Playbook will look for companies with positive contribution margins, offering ticket sizes between $10 million and $20 million.
Playbook Leadership Team and Approach
Playbook Partners aims to capitalize on growth-stage startups in India, which Choudhary described as an “underrepresented asset class.” He noted that while India has more than 100,000 startups, fewer than 1,000 have reached the growth stage. He attributes the firm’s appeal to its leadership team, which includes seasoned professionals with decades of hands-on experience in scaling growth-stage companies.
In addition to Choudhary, Playbook’s board includes former McKinsey executive Dushyant Singh and Sistema Asia Capital senior partner Sumit Jain. The firm has also secured a prominent advisory board, including figures such as Nazara founder Nitish Mittersain and InMobi CEO Naveen Tewari.
The venture capital firm expects to achieve final close of its $250 million fund in the near future, with the aim of helping growth-stage startups in technology-driven sectors reach their full potential in global markets.
Disclaimer
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.