StartupXseed Ventures a Bengaluru-based has launched its second fund of ₹200 crore, that will focus on early-stage investment in start-ups focused mainly on deep technologies.
The sector agnostic seed and early stage venture capital fund was founded half a decade back back by B. V. Naidu, former director, Software Technology Parks of India, Mohan Das Pai, co-founder of Aarin Capital, Ravi Thakur and other entrepreneurs. Out of ₹200 crore, ₹65 crore has been shown up from from individual technocrats and the balance amount will be raised over the next 6-9 months.
B.V. Naidu, Managing Partner, StartupXseed said, “In Fund II, we will continue to focus on Deep Tech companies with capital efficient business models. Our strategy has worked out very well in Fund I and is reflected in the performance. Over these years, we have built a team, quality deal flow network, deal evaluation framework, post investment hand-holding and demonstrated exits.”
Ravi Thakur, co-founding partner, StartupXseed said, “We were looking at seed stage funding in fund 1, and in fund 2 will look at seed to early growth stage so we will pick up little bit more equity… the horizon is looking good for investment with much advanced technologies being developed locally.”
T.V. Mohandas Pai,co-founder Arin Capital said, “StartupXseed has found its niche and unique positioning amongst venture funds. It will continue to build on its Fund I performance. India is today at the cusp of building technology innovations and start-ups are at the core of it playing a pivotal role and Venture funds like StartupXseed catalyses the growth of these start-ups.”