Oister Global, a Gurugram-based investment company that has backed private market funds across venture capital, growth equity and private equity, has partnered with the India arm of Silicon Valley VC firm Tribe Capital to launch a new fund focused on secondary transactions. This exclusive partnership expects to invest $500 million in the next two years.
This strategic partnership leverages Tribe Capital India’s quant diligence with Oister’s Indian private market expertise. With 18 years of deep-rooted experience in the Indian PE/VC ecosystem, Oister has developed a keen ability to navigate the complexities of the Indian private market.
Together, they have identified their first set of investments and continue to build a strong pipeline. The Indian secondary market has steadily become a substantive source of funding in India. Their partnership aims to drive India’s secondaries market forward. In the last 4–5 years, $7.7 B has been transacted – a number that rivals total amounts raised via IPO exits during the same period.
Globally, the secondaries market is estimated at over $130 billion, while India’s secondaries is still at an early stage. The launch of this franchise seeks to capitalize on the growing demand and bring unparalleled expertise to the table.
“Secondaries will be the tipping point for qualified investors to enter private markets, just as IPOs have revolutionised access to public markets. We are excited to partner with Tribe Capital India, whose quant-driven investment approach and data expertise perfectly complement Oister’s deep local knowledge and on-ground network,” said Sandeep Sinha, Co-CEO of Oister.
“The Indian private equity and venture capital sectors are ripe for secondaries, with increasing numbers of investors seeking to monetise their positions. 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.
Arjun Sethi, Co-founder of Tribe Capital India, added, “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.”
