Mumbai-based growth capital firm Playbook Partners says its fund has raised over US$130 million within four months of its launch, with backing from investors in Singapore, Europe, the United States, the Middle East, and India.

In response to the strong institutional investor interest, the fund is using the greenshoe option with the aim of growing up to US$250 million.

The fund will partner with growth-stage, tech-enabled businesses in large addressable markets that have meaningful scale, healthy operating margins and high growth, the company says.

Playbook is founded and led by Vikas Choudhury, who has supported start-ups to become unicorns, from India’s first-ever (inMobi in 2011) to its latest one (Rapido in 2024). He has held leadership roles at multinational public companies including Reliance Jio and Aimia.

His investment portfolio includes 10 unicorns, initial public offerings and exits such as inMobi, Myntra, Fractal, Nazara, PolicyBazaar, and Rapido, among other marquee companies.

“Powered by a 5x growth in the digital economy to over US$1 trillion, India will account for over 15% of the entire global economic growth over the next decade,” says Choudhury.

“Our purpose is to fuel India’s aspirational growth and transformation at scale. Our playbook isn't just to fund, but to forge – capital, relationships, and strategic insight – necessary for visionary companies to master the art of scale, and institutionalize their leadership position. Our global investors’ trust and momentum is an endorsement of our differentiated strategy and its alignment with the market opportunity.”