Meet The Top Investors In Indian Unicorns—Peak XV Partners Maintains Lead

Peak XV (formerly Sequoia Capital India & SEA) continues to top the investor list in India in 2024, according to the Hurun India Future Unicorn Index. The wealth manager has invested in 47 probable unicorns, the report said Thursday.

India is currently home to 67 unicorns, 46 gazelles (start-ups that are most likely to turn into unicorns in the next three years), and 106 cheetahs (start-ups that will turn into unicorns in the next five years), the report said.

Peak XV has brought 10 new gazelles and cheetahs under its blanket this year to retain its position as the top investor. Their most notable and successful investments are in Turtlemint, CleverTap, and Classplus.

Turtlemint is an insuretech platform that aims to “demystify” insurance by explaining the jargon in a simple way and providing smart tools to help users make an informed choice.

CleverTap is a customer engagement platform that unifies interactions. With over 11 different messaging channels, it gives the user the ability to run omnichannel campaigns based on real-time customer insights.

Classplus is a teaching platform for tutors, content creators, and coaching centres in India and elsewhere. Its aim is to enable teachers to expand their coaching business, boost income, and improve students' learning outcomes.

According to Peak XV's website, the company has grown to manage over $9 billion in capital across 13 funds and invested in over 400 companies, of which around 40 have achieved revenues of over $100 million. 

The report also named the top 10 investors in the Hurun India Future Unicorn Index. Peak XV is followed by Accel, which holds stakes in 25 future unicorns. Their portfolio features a diverse range of interesting companies, including Money View, Ninjacart, and Stanza Living. The venture capital firm has invested in two new companies over the past year.

Following Accel is Tiger Global Management. It has made investments in 21 companies that are poised to become the next generation of unicorns. Their portfolio showcases a diverse range of interesting companies, including Ather Energy, Captain Fresh, and Classplus.

Trifecta Capital Advisors, Blume Ventures, InnoVen Capital, Elevation Capital, Eight Roads Ventures, Alteria Capital, and Lightspeed Venture Partners are the other top-ranked investors, in this order.