Tue Sep 24 03:37:09 UTC 2024: ## New $500 Million Fund to Target Secondary Transactions in India’s Booming Startup Ecosystem
**Gurugram, India** – Oister Global, a Gurugram-based investment firm, and Tribe Capital India, the Indian arm of the US-based growth equity and private equity firm Tribe Capital, have announced the launch of a new fund focused on secondary transactions in the Indian startup ecosystem. The fund is expected to invest $500 million over the next two years, capitalizing on the growing momentum of secondary private market transactions in India.
According to Oister Global, $7.7 billion has been transacted in the secondary market in India over the last four to five years. This trend is expected to continue, with Tribe Capital India co-founder Raj Snehil Juneja stating that “the Indian private equity and venture capital sectors are ripe for secondaries, with increasing numbers of investors seeking to monetise their positions.” He further highlighted the increasing number of secondary transactions in the first half of 2024, where 62% of startup deals valued between $50-500 million were secondary transactions or buyouts.
The fund aims to capitalize on the growing demand for secondary transactions as companies with strong unit economics prepare for potential IPOs. This trend is evidenced by the increasing number of secondary stake sales in late-stage startups such as Lenskart, Meesho, Purplle, Swiggy, Ather Energy, Healthkart, and Shadowfax.
Oister Global, known for backing firms like Blume Ventures and Stride Ventures, will be a key partner in this new initiative. Secondary deals, which involve transactions between existing and incoming investors without direct investment in the company, are becoming increasingly popular as investors seek opportunities to diversify their portfolios and capitalize on the growth of India’s startup ecosystem.
First Piper 