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As Vani Kola’s Kalaari mulls new fund, RIL could move in as white knight and boost its funding game
As Vani Kola’s Kalaari mulls new fund, RIL could move in as white knight and boost its funding game

Venture capital

As Vani Kola’s Kalaari mulls new fund, RIL could move in as white knight and boost its funding game

From left, Mukesh Ambani, chairman, Reliance Industries and Vani Kola, managing director, Kalaari Capital; image credit: BCCL and Wikimedia

Synopsis

Five years after launching its third fund, Vani Kola-led Kalaari is likely to float its fourth fund. Mukesh Ambani’s group with growing digital ambitions, which has acquired a bunch of startups of late, may now step up its play as a fund house, backing new ventures indirectly through venture-capital firms.

Three people in the venture-capital business with deep ties in the industry say there is strong talk in the market about Reliance Industries backing venture-capital firm Kalaari Capital, which has been trying to put together its fourth fund for the past two-three years. Kalaari could be coming up with a USD100 million fund, which is much smaller — just a third of its previous one — and Reliance Industries will be the main limited partner (LP) in
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