Mumbai-based investment firm White Whale Ventures has announced the successful first close of its White Whale Secondaries Fund, marking one of India’s early dedicated funds focused on providing liquidity within the private startup ecosystem.
Structured as a Category II Alternative Investment Fund (AIF), the fund has a target corpus of INR 250 crore and will focus on acquiring secondary stakes in late-stage private companies. The strategy is aimed at giving investors access to high-growth businesses before they enter public markets.
White Whale has already anchored the fund’s portfolio with investments in two well-known consumer brands, Atomberg Technologies and Blue Tokai Coffee Roasters.
Atomberg Technologies has built a strong presence in the consumer appliances segment through technology-driven products, while Blue Tokai Coffee Roasters is widely recognised for helping shape India’s premium speciality coffee market.
The firm said the secondaries market is gradually becoming an important asset class in India as startups stay private for longer periods. Funds like these are expected to play a key role by creating liquidity opportunities for early investors and employees, while also allowing new investors to participate in mature private companies.
Commenting on the development, Shapath Parikh said the firm focuses on investing in proven businesses led by strong founders.
He added that companies such as Atomberg and Blue Tokai offer an attractive combination of predictable late-stage growth and a shorter investment horizon compared to early-stage startup investments.
According to the company, the fund has already received strong participation from domestic family offices and high-net-worth individuals (HNIs). White Whale expects to complete the final close of the fund within the next 12 to 18 months.
White Whale is a multi-disciplinary investment firm that manages strategies across venture capital, secondaries, and public markets. The Mumbai-based firm said its investment approach combines deep diligence with high-conviction investing backed by experienced professionals from global financial institutions.
-By Shivani Solanki
