Chiratae Ventures Raises $150 Million in Second Close of Fund V Indian venture capital firm Chiratae Ventures, best known for backing Flipkart, FirstCry, and Lenskart in their early
Indian venture capital firm Chiratae Ventures, best known for backing Flipkart, FirstCry, and Lenskart in their early days, has announced the second close of its fifth fund at $150 million. The firm is now on track to raise $350 million (with a hard cap of $500 million) by the first quarter of 2026.
The new fund, named Chiratae Ventures Master Fund V under its Category II AIF Chiratae Ventures Trust V, is designed to supercharge India’s next wave of technology startups.
The second close saw commitments pour in from:
This strong investor backing highlights continued confidence in Chiratae’s track record and India’s startup growth story.
Fund V will be led by Managing Directors Venkatesh Peddi and Ranjith Menon and will focus on early-stage investments—from seed to Series A and B rounds.
The fund’s core focus areas include:
But Chiratae isn’t stopping there. It is also moving into newer, high-potential verticals such as defence technology and quantum computing—sectors that are expected to shape the next decade of global innovation.
Chiratae Ventures has already started deploying Fund V capital. Early bets include:
The firm also revealed that commitments to six more startups are already in the pipeline.
Founded in 2006 by Sudhir Sethi and T.C. Meenakshisundaram, Chiratae Ventures has built one of India’s most impressive venture portfolios:
With such a legacy, Fund V is expected to back the next generation of unicorns emerging from India’s fast-evolving startup ecosystem.
India’s startup scene is entering a new phase—one defined by AI adoption, deeptech breakthroughs, and global ambitions in spacetech and defence. Chiratae’s early bets in these areas could not only create the next Flipkart or Lenskart but also help position India as a leader in frontier technologies.
For investors, the $150 million second close is a strong signal of global confidence in India’s ability to produce world-class startups. For founders, it represents a fresh pool of capital ready to back bold ideas.
Chiratae Ventures has already proven it can spot unicorns before they happen. With $150 million secured and a final close in sight, Fund V could very well shape the next decade of India’s tech landscape—spanning everything from AI-driven consumer apps to quantum-powered defence systems.
