Technology-focused VC firm Chiratae Ventures has announced the second close of its fifth venture capital fund at $150 million, with a target to complete the final close by Q1 2026. The fund will focus on early-stage startups across Seed, Series A, and Series B.
The fund is co-led by Managing Directors Venkatesh Peddi and Ranjith Menon and has drawn support from domestic and global LPs, institutional investors, family offices, and repeat backers from Chiratae’s earlier funds.
Backing high-growth sectors
Fund V will maintain Chiratae’s focus on AI, DeepTech, SaaS, ConsumerTech, FinTech, ClimateTech, SpaceTech, and HealthTech, while also stepping into emerging areas such as DefenceTech and Quantum technologies.
The firm has already started deploying capital with investments in:
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HouseEazy – resale-focused proptech platform
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Pepsales – AI-powered B2B demo personalization tool
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Mili – meeting assistant for wealth managers
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Zilo – omnichannel quick-commerce fashion brand
Another six companies are already in the pipeline for Fund V.
Investor conviction in Indian entrepreneurship
“We are thankful to all our investors, both longstanding and new, for their continued support,” said Venkatesh Peddi, MD at Chiratae Ventures. “This close underscores confidence in our ability to partner with founders who will shape India’s next wave of technology companies.”
Ranjith Menon, MD, added, “The adoption of AI and the evolution of DeepTech will define this decade of Indian entrepreneurship. Strong LP support validates our investment approach and long-term commitment.”
Early-stage focus with speed and depth
Chiratae continues to invest at the seed to Series B stages, with its Sonic program enabling founders to receive quick decisions—often within 48 hours—along with access to mentors, credits, and portfolio support.
Founded by Sudhir Sethi and T.C. Meenakshisundaram (TCM), Chiratae has a 19-year track record, managing $1.3 billion AUM across seven funds with 130+ portfolio companies, 50+ exits, 8 unicorns, and 4 IPOs. Past successes include FirstCry, Myntra, Lenskart, PolicyBazaar, Flipkart, and Cult.fit.
By: Arushi Agarwal
