Vikas Choudhury, former top executive at Reliance Jio, has launched a new growth-stage investment fund called Playbook Partners, which has achieved its first close at $130 million and may eventually expand to $250 million. The fund has secured investments from large institutional investors across Europe, the US, West Asia, and India, and will focus on tech-first companies that have already established viable business models but require funds to scale into multimillion-dollar revenue businesses.
Playbook Partners will invest in companies with a revenue base between Rs 100 crore to Rs 200 crore, targeting businesses with a positive contribution margin. The average investment ticket size will range between $10 million and $20 million, with the firm either leading or co-leading investment rounds. The fund will prioritize two main themes: companies that use digital technology to enhance distribution in sectors like consumer, fintech, and supply chain, and those that solve large-scale problems with digital innovation, such as health, climate, and software as a service.
Before founding Playbook Partners, Vikas Choudhury held leadership roles at Reliance Jio and was the India CEO of Aimia, a Toronto-based investment holding company. He also served as a partner at Pivot Ventures, a multi-family office focused on alternative investments. Playbook Partners is established as a separate fund with its own professional management team and received its SEBI license in early 2024, registering at Gift City in Gandhinagar. With his extensive experience in running large businesses, Choudhury aims to leverage Playbook’s expertise to help founders scale their companies into sustainable and profitable enterprises.