New fund · Professional & Local Services

Playbook Partners launches $250 Mn fund

By Startup Enthusiast · 12 February 2026

What they do

Playbook Partners is a growth-stage investment firm that backs IPO-bound companies

It launched a $250 Mn fund with a first close of $130 Mn and made two investments in 2026

The firm targets 7-8 deals this year in consumer tech, fintech, and AI sectors

Playbook Partners launched a $250 Mn fund with a first close of $130 Mn.
The firm made two investments in 2026: $15 Mn into a foodtech company and a lead investment of $15-20 Mn into an AI-led digital transformation startup.
It targets 7-8 growth-stage deals in 2026 across consumer tech, fintech, and AI.
Over three years, the firm plans to invest in 12-15 growth companies.
Playbook positions itself as a post-VC, pre-PE investor, backing founders who want independence and public markets.
It invests in IPO-bound companies and holds significant post-listing stakes for long-term value.
The firm focuses on Series C, D, E companies with ~$50 Mn revenue, turning profitable, with a three-year path to IPO.

Founder Vikas Choudhury, former Jio president, says there are only 100-200 real growth deals in India per year.
He notes that valuations have rationalised post-2021 hype, and public markets show better pricing.
Total capital raised by new-age tech IPOs almost doubled from 2023 levels.
Choudhury believes the market is moving toward entrepreneur-driven funds with operating depth.

Playbook Partners is a growth-stage investment firm that backs companies before their IPO.
It invests in consumer tech, fintech, and AI sectors.
The firm targets companies with ~$50 Mn revenue, turning profitable, with a three-year path to IPO.
It holds significant post-listing stakes for long-term value, not quick exits.
Portfolio includes Curefoods, Renee Cosmetics, Exotel, InMobi, Fractal, Rapido, Myntra.
Listed portfolio companies include PB Fintech, Capillary Technologies, Nazara.
Capillary Technologies listed successfully and doubled in size since Playbook invested two years ago.