Domestic financial investors Oister Global and Tribe Capital India have partnered to launch their secondaries franchise in India, with plans to invest $500 million over the next two years, primarily into startups.
According to a statement, Oister Global and Tribe Capital have identified their first set of investments and continue to build a strong pipeline as the Indian secondaries market has steadily become a substantive source of funding in the country, they noted.
“Secondaries will be the tipping point for qualified investors to enter private markets, just as IPOs have revolutionised access to public markets,” said Sandeep Sinha, Co-CEO of Oister.
The statement noted that in the last 4-5 years, $7.7 billion has been transacted through private secondary markets—a number that rivals total amounts raised via IPO exits during the same period. The partnership aims to capitalise on the growing demand for secondaries in India as the firms believe an increasing number of investors are seeking to monetise their positions.
Tribe Capital India Co-founder Arjun Sethi said, “India presents an incredible opportunity for secondary transactions. As investors seek liquidity and companies gear up for larger exits, I’m excited to help identify and empower the next generation of successful startups. Our partnership with Oister creates tremendous synergies to capitalise on India’s potential.”
In the first half of 2024, 62% of startup deals valued between $50-500 million were secondary transactions or buyouts. As companies with strong unit economics prepare for potential IPOs, we expect demand for secondaries to soar,” said Raj Snehil Juneja, Co-founder of Tribe Capital India.
Tribe Capital India, the India arm of the US-headquartered Tribe Capital, counts companies like Apollo.io, Shiprocket, Blackbuck, Docker etc in its portfolio.
As a financial investor, Oister Global has invested in VC/PE funds like Blume Ventures, Stride Ventures, Filter Capital etc.
