Why Global Giants Are Eyeing Indian Startups: Schroder Fund Makes a Bold Entry into Ixigo

What does it take to get global asset managers excited about an Indian travel tech startup? Apparently, a proven growth story, strong investor returns, and a booming travel rebound.

In a development that underscores the rising global investor confidence in India’s tech-driven travel sector, Schroder Fund, a $950-billion global asset management giant, has made its maiden entry into Ixigo, the homegrown travel-tech player, by acquiring shares worth nearly ₹97 crore. This strategic move was part of a block deal where early backer Elevation Capital (formerly SAIF Partners) partially exited its stake in Ixigo’s parent company, Le Travenues Technology, delivering a staggering 25X return on investment.

A Global Name Walks In, A Veteran VC Cashes Out—Partially

On June 19, Elevation Capital sold 75.48 lakh shares in Ixigo at an average price of ₹179.25 per share, amounting to a transaction worth ₹135 crore (approx. $15.7 million). Simultaneously, Schroder Fund picked up 53.68 lakh shares, marking a substantial investment of ₹96.8 crore and signaling its trust in Ixigo’s long-term play.

This move is more than just another stock market transaction—it’s a reflection of the maturing Indian startup ecosystem where global capital is increasingly flowing into post-IPO companies, not just early-stage bets.

Who Is Schroder Fund—and Why Does It Matter?

Founded over 200 years ago, Schroder Fund is one of the world’s most respected and diversified asset managers. Headquartered in the UK, it operates across 37 countries, managing close to $950 billion in assets across sectors and geographies. While the firm has long been bullish on Indian financial institutions—boasting significant holdings in HDFC Bank and ICICI Bank—its growing interest in startups is telling of a shifting strategy.

In India’s new-age economy, Schroder already has stakes in notable ventures such as:

• Bizongo – the B2B packaging unicorn

• AgroStar – an agritech disruptor

• Lenskart, FirstCry, Cultfit, Peel Works, and Miko

Its entry into Ixigo places the Gurugram-based travel-tech company in distinguished company—startups that have not only scaled but are shaping consumer behavior in India.

Elevation Capital’s Exit—A Textbook Case of Startup ROI

For Elevation Capital, one of the earliest backers of Ixigo, this marks the fourth partial exit from the company. Over the years, the VC has strategically timed its exits:

• ₹180 crore ($21 million) during Ixigo’s IPO

• ₹100 crore ($12 million) in a pre-IPO secondary deal

• ₹38.27 crore ($4.5 million) in a previous sell-off

• And now, ₹135 crore ($15.7 million) in the latest block deal

These exits aren’t just about numbers—they paint a picture of how VCs can find lucrative returns through long-term bets on category-creating startups. After the recent sale, Elevation’s stake in Ixigo drops from 14.02% to 12.08%, indicating that they’re still holding on to a meaningful share in anticipation of more value creation.

Ixigo’s Performance: Is the Travel Boom Here to Stay?

Ixigo’s fundamentals suggest that it’s not just sentiment but strong business performance attracting investor attention. According to its recent quarterly and annual filings:

• Revenue (Q4 FY25): ₹284 crore, up 72% YoY

• Profit (Q4 FY25): ₹17 crore, up 2.4X YoY

• Annual Revenue (FY25): ₹914 crore, up 39% YoY

• Annual Profit (FY25): ₹60.2 crore, down 18% YoY

The slight dip in annual profit might raise eyebrows, but given the post-pandemic travel surge, tech upgrades, and platform expansion, this may well be part of a strategic reinvestment cycle.

At the end of the trading day on June 19, Ixigo’s share price closed at ₹175, giving the company a robust market capitalization of ₹6,885 crore. Clearly, the market is placing its bet on Ixigo riding the next wave of Indian travel consumption.

What This Means for India’s Startup Landscape

In many ways, this deal is emblematic of how Indian startups are entering a new lifecycle—one where post-IPO investor confidence, VC returns, and global asset manager participation all converge. With over 100 Indian startups reaching the unicorn club, the spotlight is now on who sustains, who scales, and who delivers returns.

Ixigo’s evolution—from a scrappy OTA startup to a publicly listed player attracting international capital—offers an inspiring roadmap for the next generation of Indian founders. And Schroder Fund’s bet? It’s a strong signal that India’s startup success stories are now global investment themes.

Key Takeaways for Startup Ecosystem Watchers:

• 25X Return: Elevation Capital’s partial exits from Ixigo stand as a rare example of long-term VC success.

• Global Entry: Schroder Fund’s ₹97 crore stake in Ixigo shows increasing global faith in India’s travel-tech.

• Strong Fundamentals: Ixigo continues to grow its revenue significantly, with profitability on track despite seasonal blips.

• Maturing Market: The story illustrates the new era where startup IPOs are not the end game—but part of a longer growth arc.