Fractal Growth Partners eyes $250 mn fund to invest in Indian tech startups

"It's targeting investments of $10 million to $15 million per target company and plans to close the investments in about five years"

A pair of former fund managers from KKR & Co. and British International Investment Plc aim to raise as much as $250 million to invest in technology-focused startups in India, according to people familiar with the matter.

The new venture capital fund, Fractal Growth Partners, was co-founded by Ajay Candade, who until recently led KKR’s growth tech business in India, and Nikhil Balaraman, who was previously head of South Asia tech investment at BII. FGP will look to scale up companies that have moved past the seed funding phase, one of the people said, asking not to be identified