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IFC Fuels A91 Fund III with $65M to Power India’s Startup Surge

The International Finance Corporation (
) has committed to investing $65 million in A91 Partners’ third fund, strengthening its resolve to support India’s emerging business leaders. This strategic injection of capital from IFC is poised to energize India’s fast-growing startup and scale-up landscape. By aligning with a homegrown fund manager like A91 Partners, IFC reinforces its development finance mission while nurturing the next wave of innovation across the Indian market.
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A91 Partners has established itself as a formidable investor in the Indian growth equity space. With its third fund targeting $500–$600 million in capital, A91 is focusing on building a portfolio of companies in consumer, financial services, healthcare, and technology. IFC’s support not only boosts fundraising efforts but also ensures that the fund adheres to global impact and ESG (Environmental, Social, and Governance) standards.
IFC, a member of the World Bank Group, is known for its unique ability to balance financial returns with development goals. The $65 million earmarked for A91 Partners’ third fund will be directed toward companies that have the potential to transform industries, generate employment, and strengthen economic inclusivity. Through this investment, IFC continues to prioritize scalable, sustainable ventures that directly impact underserved populations.
The timing of this announcement reflects IFC’s belief in the resilience and potential of India’s startup ecosystem. Amidst global uncertainty and capital tightening in some markets, India stands out as a hotspot for innovation. This has made it a priority destination for IFC, which seeks to expand private sector growth in regions with high impact potential.
What makes this partnership notable is the synergy between IFC’s long-standing development focus and A91’s market expertise. A91 Partners, founded by former leaders of Sequoia Capital India, has built a reputation for identifying Indian entrepreneurs with bold visions. These founders often operate in high-growth sectors but lack the access to strategic capital needed to scale operations responsibly and efficiently.
By investing in A91 Fund III, IFC facilitates the flow of capital into companies that not only promise profitability but also contribute to critical development areas. For instance, in healthcare, funds can help businesses deliver better care at scale. In fintech, capital can accelerate financial inclusion for millions. And in the consumer sector, investments can support locally made products that serve rising middle-class demand.
IFC’s involvement also enhances the governance frameworks within A91’s fund operations. All IFC-backed funds are required to meet stringent due diligence and reporting protocols. This ensures that capital is used transparently and that portfolio companies operate with a high degree of accountability. For A91, this means adopting even more rigorous standards, which strengthens its global credibility.
In addition to capital and governance, IFC brings deep institutional knowledge and international exposure to the table. This adds immense value to A91’s investee companies, many of which are preparing to scale into regional or global markets. IFC’s insights into cross-border regulations, sustainability, and risk management can help these firms avoid common pitfalls during expansion.
Another key benefit of IFC’s partnership is catalytic capital mobilization. Often, when IFC commits to a fund, other international institutional investors follow suit. This boosts fundraising efforts and provides the fund manager with increased firepower. A91 Fund III is now well-positioned to not only hit its fundraising goals but potentially exceed them.
IFC also focuses on creating ripple effects. Its investments in funds like A91 Partners’ third fund are designed to build long-term capital infrastructure in emerging economies. These investments support fund managers who can continue to nurture future businesses for decades. By backing A91 now, IFC is supporting an ecosystem of responsible capital providers who will shape India’s economic future.
The $65 million investment into A91 Fund III reflects IFC’s strong optimism for India's entrepreneurial energy. Startups and growth-stage companies are increasingly seen as the engines of innovation, job creation, and value generation. With IFC’s support, A91 can help accelerate this momentum by targeting businesses that are both commercially sound and socially significant.
This partnership underlines IFC’s mission of transforming markets through strategic investments. It is not just about backing one fund—it’s about enabling a platform that can uplift hundreds of businesses, improve lives, and stimulate long-term development in one of the world’s most promising economies.
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