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Filter Capital closes first fund at Rs 800 crore from HDFC Fund of Funds, SIDBI, others

Nitin Nayar, Co-founder and Managing Director at Filter Capital told FE Aspire that the fundraising stands out notably among first-time domestic funds with a technology focus over the past two to three years.

Technology-focused investment firm Filter Capital has successfully closed its first fund Filter Capital India Fund I with a total corpus of Rs 800 crore. According to the company, 60 per cent of the capital commitment came from domestic institutional investors and family offices including HDFC Fund of Funds, SIDBI, SRI Fund, Oister Global, DSP family office, Akash Prakash (founder of Amansa Capital), and Harsh Jain (CEO of Dream11). The remaining 40 per cent commitment was from international investors.

Nitin Nayar, Co-founder and Managing Director at Filter Capital told FE Aspire that the fundraising stands out notably among first-time domestic funds with a technology focus over the past two to three years.

“Our view has always been that with a Rs 700 – 1,000 crore corpus, we would be able to successfully execute the investment strategy of leading growth-stage rounds in technology-led businesses in India. We are pleased with this outcome, especially considering the challenging funding environment,” said Nayar – the former India head at Warburg Pincus.

Focusing on SaaS, technology services, and technology-led businesses across consumer, financial and business services, Filter Capital has backed more than 30 per cent of its corpus across four investments in SaaS, consumer technology, and B2B services — Capillary Technologies, bus mobility platform Chalo Mobility, e-commerce logistics services firm LoadShare Networks, and healthcare enterprise SaaS company THB.