ConsumerX Ventures Unveils ₹150 Crore Early-Stage Fund Backing India’s Next-Gen Consumer Brands

India’s leading community for D2C operators, founders, and startup leaders, announced the launch of ConsumerX Ventures, India’s first operator-led, early-stage fund focused exclusively on new-age and digitally native consumer brands. With a target corpus of ₹150 crore, ConsumerX Ventures has been created to support startup founders at the most formative stages of their journey, where access to structured institutional support remains limited.

Built on the foundation of D2C Insider’s extensive operator ecosystem, ConsumerX Ventures brings together capital, deep operating insight, and community-led support under a single institutional platform. The fund will focus on pre-seed and seed-stage consumer brands, backing founders early as they build product-market fit, brand differentiation, and scalable business models in a rapidly evolving consumption landscape shaped by Gen Z and Bharat consumers.

The launch of ConsumerX Ventures was announced at the D2C Insider Super Angels Annual Day in New Delhi, a gathering that witnessed participation from over 120+ founders, operators, and ecosystem leaders across India’s consumer and startup ecosystem. The event brought together leaders from brands such as Paytm, Xiaomi, Sirona Hygiene, Nykaa, Pee Safe, InsuranceDekho, Rage Coffee, Droom, ShopClues, Bacca Bucci, among others.

Mr. Abhishek Shah, Managing Partner, ConsumerX Ventures, said, "ConsumerX Ventures has been built to address a clear gap in the ecosystem, the lack of dedicated and institutional support for founders of consumer startups at the earliest stages. As part of the community, we understand the challenges of building in the zero to one phase. By launching ConsumerX Ventures, we are extending the D2C Insider community’s decade-long work with business leaders into a long term and structured platform designed to back the most promising consumer brands from day one."

Ms. Chhavi Bhardwaj, General Partner, ConsumerX Ventures, added, "India’s consumption story is being reshaped by Gen Z, Bharat, and digitally native behaviours. ConsumerX Ventures is focused on identifying and supporting founders who are building for these shifts. Our approach combines capital with deep operator insight and ecosystem access, enabling early conviction, closer founder alignment, and hands-on ecosystem support from day one to founders to build resilient, category-defining brands in a highly competitive market."

ConsumerX Ventures is anchored in an operator led investment approach, built by seasoned consumer operators who have scaled brands, invested in emerging companies, and worked closely with new age founders over the past decade. The fund will build a focused and concentrated portfolio of 20 to 25 early-stage consumer companies across categories, with an emphasis on strong founder market fit, differentiated positioning, and scalable growth potential. ConsumerX Ventures aims to maintain continued participation through Series A and reserve follow on capital for high performing portfolio companies.

ConsumerX Ventures draws from the strength of D2C Insider, one of India’s leading D2C operator ecosystems, with an engaged network of over 30,000 founders, operators, investors, and ecosystem partners. This network strengthens ConsumerX Ventures’ sourcing capabilities, diligence depth, and long-term founder support.

Antariksh Venture Capital Fund to Fuel India’s Spacetech Startups from FY2027

India’s ₹1,005 crore Antariksh Venture Capital Fund, managed by SIDBI Venture Capital Limited, has completed its institutional setup and is expected to begin investing in spacetech startups from the first quarter of FY2027. The initiative aims to strengthen private sector participation and position India as a global space economy leader.

Union Minister Dr. Jitendra Singh said that India’s dedicated venture capital fund for the space sector is progressing steadily, with investment in selected startups expected to begin from the first quarter of FY2027.

Key Highlights of the Antariksh Venture Capital Fund

• Fund Corpus: ₹1,005 crore committed corpus.
• Manager: SIDBI Venture Capital Limited (SVCL).
• Regulatory Milestones: SEBI registration on October 31, 2025; Initial closing on November 10, 2025.
• Operational Setup: Appointment of custodian, registration with depositories, and constitution of Screening & Investment Committees completed.
• Startup Pipeline: Four spacetech proposals have advanced after Pre-Investment Committee approval.
• First Investments: Expected in early FY2027, following due diligence and documentation.

Strategic Objectives

• Boost Private Sector Participation: Encourage startups to contribute to India’s growing space ecosystem.
• Innovation Support: Provide structured guidance and “handholding” to help startups align with institutional investment processes.
• Global Competitiveness: Strengthen India’s position in the global space economy by fostering innovation and commercialization.

Why This Matters

India’s space sector has traditionally been dominated by ISRO, but recent reforms have opened the door for private players. The Antariksh Fund represents a systematic financial mechanism to nurture startups in areas such as:

• Satellite manufacturing and launch services
• Space-based communication and navigation systems
• Earth observation and data analytics
• Emerging technologies like reusable rockets and deep-space exploration

By FY2027, India could see its first wave of venture-backed spacetech startups, potentially creating new employment opportunities and attracting global partnerships.

Challenges Ahead

• Nascent Ecosystem: Many startups lack robust documentation and compliance readiness.
• Due Diligence Requirements: Institutional investors demand structured data and financial transparency.
• Global Competition: India must balance innovation with affordability to compete with established players in the US, Europe, and China.

Outlook

The Antariksh Venture Capital Fund is more than just a financing vehicle—it’s a policy-driven catalyst for India’s spacetech future. With investments slated to begin in FY2027, the fund could accelerate India’s transition from a government-led space program to a dynamic, private-sector-driven ecosystem, unlocking opportunities in both domestic and international markets.

Equirus InnovateX Fund Announces Final Close of Debut Enterprise Tech Fund at ₹166 Crore

Equirus InnovateX Fund (EIF), the early-stage venture arm of Equirus Group, today announced the final close of its maiden B2B tech fund at ₹166 crore. The fund’s first close was announced in February 2024.

EIF backs seed and pre-series A companies building in Deep Tech, SaaS and Fintech - typically teams that are post-product and working toward product-market fit. The fund aims to partner with founders solving hard problems with clear distribution and defensibility, and who are building for long-term sustainability from day one.

The close attracted both domestic and global investors who bring operational experience and market access in addition to capital. True to its ethos - “by entrepreneurs, for entrepreneurs” - EIF counts a number of founders and operators among its backers, including Girish Gaitonde (Founder & Board Member, Xoriant), M.R. Jyothy (Chairperson & MD, Jyothy Labs), Dhimant Bhayani (Founder & CEO, iRevo), Raj P. (Founder & Executive Chairman, Zaggle), Shankar Vailaya (Former Director & Co-Founder, Sharekhan) and Nitin Seth (Vice Chairman, GD Foods).

The Fund is led by Krishna Jha, Sunder Nookala and Sadhika Agarwal, experienced founders and investors with strong operational backgrounds, and responsible for driving investments and managing the portfolio across the fund’s focus areas.

Sunder Nookala, Partner, Equirus InnovateX Fund, added: “At the seed and pre-series A stage, capital alone is not the differentiator - context and conviction are. Having built and backed companies ourselves, we understand the inflection points founders face around product-market fit, enterprise access and organisational build-out. With Fund I fully closed, our commitment is to work closely with portfolio companies to help them scale responsibly, strengthen fundamentals and build institutions that stand the test of time.”

EIF has deployed over one-third of the corpus, backing seven startups from Fund I, with a target portfolio of up to 15 companies. Active investments include Pointo, Datazip, GreenStitch, CtrlB, Consuma AI, RSPL and NeverInstall. The remaining capital is expected to be deployed over the next 12-18 months.

Krishna Jha, Partner, Equirus InnovateX Fund, said: "As India's startup ecosystem matures, we are seeing a new generation of audacious founders solving structurally complex problems. As a firm of ex-operators, our focus is on partnering with these founders as they walk the long road from early idea to enduring, category-defining company."

Beyond capital, EIF partners with founders on enterprise access, regulatory navigation, senior hiring, and capital-raising preparedness. The fund emphasises strong governance and long-term value creation rather than short-term value maximisation.

With the maiden fund now fully closed, EIF will focus on scaling its existing portfolio, selectively adding new companies, and deepening relationships with founders and long-term capital partners as it lays the groundwork for its next fund.

Notable angel investments of partners – Ajay Garg, Krishna Jha and Sunder Nookala – include Druva, Kwench, Adpushup, Sirona, Wow Momo, Credgenics, and GoComet.

About Equirus InnovateX Fund

A ₹166Cr SEBI-registered Category-I AIF focused on early-stage investments from Seed to Pre-Series A. The fund backs founders building in SaaS and DeepTech and Fintech, typically at post-product, pre-PMF stage. The Fund has invested in high-impact businesses across sectors, including: Pointo (Energy Efficiency: Battery Lifecycle Management), Datazip (Composable Lakehouse platform), GreenStitch (Fashion & Retail Focused ESG SaaS), CtrlB (Observability SaaS), Consuma (AI for Market/Consumer Insights) and RSPL (Semiconductor) and Neverinstall (Virtual Desktop Infra).

Founders Backing Founders: True to our ethos - “A fund for founders, by founders, and of founders,” Equirus InnovateX Fund is built with a deep understanding of what it takes to build at the earliest stages. We are on a mission to back bold ideas, brilliant minds, and transformative tech - supporting passionate founders who are building the future.

Website: https://www.equiruswealth.com/eif

About Equirus Group

Equirus Group is a leading full-service financial services firm specializing in investment banking, institutional securities, wealth and asset management, HNI broking, NBFC, and insurance solutions. With a “client always first” approach and a proven track record of delivering value creation, Equirus has built impeccable credentials across domains and sectors. Equirus has completed more than 330+ transactions across M&A, PE, IPOs, QIPs, Rights Issues, and Structured Finance, raising USD 15 billion in the process across sectors over the last 18 years, and has created a differentiation for itself through its ability to structure and deliver transactions in line with the client’s requirements.

Website: https://www.equirus.com/

IAN Group Announces Final Close of its Second VC Fund IAN Alpha Fund with US$100 Mn

IAN Group, the country’s single largest early-stage investment platform, has announced the final close of its 2nd VC Fund - IAN Alpha Fund with US$100 million. The Fund will invest in early-stage companies / MSMEs with strong founders, solving real problems, leveraging technology and innovation, including those aligned to India’s national strategic imperatives. While deep tech remains at the heart of its investment thesis, the IAN Alpha Fund follows a carefully structured risk-mitigation strategy, balancing innovation led long-gestation ventures with shorter-cycle businesses. This approach ensures a high return proposition for investors while enabling the fund to continue supporting frontier technologies that require patient capital and domain expertise.

Since its launch, the Fund has already invested in 10–12 pioneering startups, many of them led by first-generation founders based across India, including Tier II and Tier III cities. These startups are leveraging breakthrough technologies such as AI, space tech, semiconductors, biotech, and are increasingly developing indigenous solutions in healthcare, climate, manufacturing, cybersecurity, environment etc. that align closely with India’s developmental goals.

The investors of the Fund have signalled strong confidence in IAN’s capability and proven track record in identifying and scaling high-potential ventures. The IAN Group is delighted to have an exceptional set of marquee investors, including government investors such as the DPIIT - Fund of Funds for Startups managed by SIDBI, Self Reliant India Fund, ACE Fund, Odisha Startup Growth Fund, and Agri Sure Fund of Funds Scheme managed by Nabventures Ltd., as well as institutional investors including Buimerc Corporation Ltd., Dubai, HDFC Life, DS Group Family Office, National Bank for Agriculture and Rural Development, alongside select family offices and individual investors. Notably, a significant portion of the corpus has been contributed by returning investors, reflecting deep trust and continued conviction in the Group’s vision and performance.

This Fund endorses IAN’s two-decade track record of investing in and growing companies. Its portfolio of 250+ companies today stand at a market valuation of almost $10 billion, in sectors such as space tech, biotech, defence tech, AI/ML, SaaS, robotics, fintech, health tech, manufacturing tech, consumer tech, etc.

Mentorship and strategic guidance, the IAN Group’s hallmark, remain central to the Fund’s philosophy. The company’s founder-first philosophy, extensive industry knowledge, and structured mentorship framework have all been crucial in helping firms grow from concept to scale over the years. By giving entrepreneurs access to top-notch strategic advice, governance support, and market insights, the IAN Alpha Fund carries on this legacy by assisting founders in overcoming difficult obstacles, accelerating innovation, and creating long-lasting, rapidly expanding businesses. The Fund guarantees focused execution and ongoing wealth development across its portfolio, supported by an accomplished leadership and investment team.

Saurabh Srivastava, Co-founder, IAN Group, said, “India's biggest opportunity is to transform its problems into innovation-driven businesses. While the founder is at the centre of IAN Alpha Fund’s thesis, it is critical that technology is leveraged to scale the solution for a large market, both in India and then globally. This fund aims to breed companies that bring a paradigm shift to industry and become global leaders.”

Padmaja Ruparel, Co-founder, IAN Group, said, “The IAN Alpha Fund’s thesis is to invest and breed innovation solving real problems or building for India’s strategic imperatives. The role that the Fund plays is way beyond funding, to bring mentoring, market access, and governance frameworks for these early companies. The Fund focuses on technology innovation by Indians, from India, for India & the globe.”

Chintan Thakkar, Group CEO, IAN Group, said, “IAN’s unique strength is an early-stage investment platform that enables entrepreneurs to raise from Rs. 50 lakhs to Rs. 50 crores with handholding from domain and industry experts. The IAN Group continues to focus on improving lives, promoting inclusivity, and establish India as a leader worldwide.”

By combining patient capital, mentorship, and strategic partnerships, the IAN Alpha Fund is catalyzing the next generation of founders who are building solutions. Its continued growth marks a defining moment in India’s journey toward becoming a global innovation hub — where every rupee invested helps solve real problems, create jobs, and build national capability.

About IAN Group:

IAN Group is India’s largest horizontal platform for seed and early-stage investments, comprising the IAN Angel Fund, BioAngels, and a series of SEBI-registered venture capital funds. It enables entrepreneurs to raise anywhere from Rs. 50 lakhs to Rs. 50 crores, supported by capital, high-quality mentoring from successful founders, and access to global markets. Sector-agnostic in its approach, IAN Group backs founders across domains and helps them scale their companies across India and beyond. Forbes has recognised IAN as one of the most iconic business and economic developments of Independent India over the last 75 years, alongside institutions such as LIC, NASSCOM, the RBI, and Naukri.com.

Nexus Venture Partners Closes $700M Fund VIII to Back AI and Early-Stage Innovators in India & US

Nexus Venture Partners (“Nexus”), a leading venture capital firm investing in transformational startups across India and the United States, today announced the closing of Nexus Ventures VIII, a $700 million fund to back exceptional founders building AI, enterprise software, consumer and fintech startups at inception, seed, and Series A stages in India and the US. Nexus VIII has the support of world-class limited partners, the majority of whom have been with the firm since the early days.

Founded by entrepreneurs and engineers with deep technical and operating experience, Nexus has established itself over the last two decades as the trusted go-to partner for early-stage founders. Nexus has extensive hands-on experience in helping scale companies from inception to IPO. Over the years, the firm has invested in more than 130 companies and achieved over 30 exits, including several IPOs. They have a strong track record of investing in AI stack innovators, developer platforms, open-source infrastructure, AI agents, consumer, and fintech companies.

From new-age, fast-growing AI startups like Avoca, Giga, TensorWave, Firecrawl, and Gumloop, or established leaders like Postman, Apollo, Fingerprint, MinIO, Zepto, Turtlemint, Delhivery, India Shelter and Rapido, Nexus has consistently backed a roster of exceptional founders who are challenging the status quo and reimagining how things are done. Along with seminal enterprise AI startups in the US, Nexus is also investing in generational consumer, fintech, and AI companies in India, one of the world’s fastest-growing economies, with accelerating digital consumption powered by advanced payments infrastructure, mobile adoption, and ubiquitous broadband.

“The last few years have been surreal for the technology world with trailblazing breakthroughs in generative AI and an unprecedented pace of AI adoption across consumers and businesses alike”, quoted Nexus partners. “From infrastructure to applications, every layer of the tech stack is getting rewritten by AI. Agentic AI is transforming how work gets done, bringing a whole new wave of augmentation and automation across industries.”

They added, “Over the years, we have had the pleasure of backing several founders from the early days of their journeys, who have gone on to take their companies public or are poised to do so soon. With Fund VIII, we’re doubling down on visionary entrepreneurs solving the hardest problems and shaping the next wave of global innovation”.

Nexus’s integrated approach, with depth of experience and relationships across the Bay Area and India, enables it to focus on the two largest startup ecosystems in the world: the US and India.

The firm remains uniquely positioned to help build path breaking companies in both the geographies.

About Nexus Venture Partners

Nexus is an early-stage venture capital firm partnering with the most ambitious founders building product-first companies. Founded in 2006, Nexus manages $3.2 billion in capital across funds and operates as an integrated team across the US and India. Nexus portfolio includes Postman, Apollo.io, Zepto, MinIO, Fingerprint, Avoca, Firecrawl, Orkes, Gumloop, Neysa, Giga, Tensorwave, Druva, Observe.ai, Daloopa, Pubmatic, PromptQL, Delhivery, Turtlemint, India Shelter, Rapido, Infra.Market, Ultrahuman, and more.

IIT Madras to Launch ₹200 Crore VC Fund to Back Deeptech Startups

IIT Madras has announced the launch of a ₹200 crore (~$24 million) venture capital fund to support early-stage deeptech startups, particularly those incubated within its innovation ecosystem.

The fund, titled the IITM Alumni Fund, was formally introduced during the Sangam 2025 alumni summit in Bengaluru.

The fund aligns with the institute’s Startup Shatam mission to incubate 100 deeptech startups annually. 

• Fund Focus: Pre-Series A and Series A investments in deeptech ventures
• Backers: Primarily funded by IITM alumni and high-net-worth individuals
• Structure: Operates as a separate legal entity with standard VC governance
• Vision: Supports the institute’s ‘Startup Shatam’ mission to incubate 100 deeptech startups annually
• Track Record: IITM has already incubated 500+ startups with a combined valuation of over ₹50,000 crore and created 11,000+ jobs
• Notable Successes: Includes unicorns like Ather Energy and Uniphore

Prof. Ashwin Mahalingam, Dean (Alumni and Corporate Relations), IIT Madras, said —

“This fund will help accelerate our vision of ‘Startup Shatam’... A focused Series A-level VC fund, where the investors are our own alumni and well-wishers, is exactly what is going to get us there.”

Infosys Invests €5 Mn for a Minority Stake in German VC Fund UVC Partners

Infosys has partnered with UVC Partners, a German-based venture capital fund, committing to invest €5 million (approx USD $5.42 million). The investment will be made over an approximately 5-year period as and when the capital is called.

UVC Partners focuses on early-stage investments in European B2B tech startups, including areas like AI, Software, Deep Tech, Space Tech, Semiconductors, Quantum, Robotics, Decarbonization, Nuclear Fusion, Hydrogen, and Mobility.

In an exchange filing, Infosys said, "The Infosys Innovation Fund aims to partner with UVC's ecosystem and startups to complement its capabilities and co-create next-generation solutions."

By partnering with UVC, Infosys gains access to early-stage European B2B tech startups. This strategic positioning allows Infosys to explore innovative technologies and solutions that align with its business goals. Investing in startups diversifies Infosys's portfolio beyond its core services. It provides exposure to emerging sectors like AI, Software, Quantum, Robotics, and Decarbonization.

Infosys said Germany is a strategic market for the company, and UVC is a leading early-stage venture capital firm investing in disruptive startups within the German and European ecosystems. "AI and Deep Tech are rapidly evolving and are crucial to Infosys' strategy, with increased usage across its clients for creating intelligent products, experiences, and business transformations," the IT company said in a press release.

Infosys has bought a minority holding in UVC, not exceeding 20 per cent of the fund size, in the all-cash deal.

UVC Partners is a Munich- and Berlin-based venture capital firm that invests in European B2B startups. The VC firm support founders who are radical, humble, genius, irreverent, bold, caring, visionaries, scientists, makers, truth-seekers, builders, inventors, and hackers. Its initial investments range from €500,000 to €10 million, and they're committed for the long haul, fostering growth and innovation. The UVC team includes rocket scientists, CS geeks, electrical engineers, AI researchers, mechanical engineers, materials scientists, and economists.

Infosys, in April, acquired in-tech, a leading Engineering R&D services provider focused on the German automotive industry. This strategic move enhances Infosys's engineering capabilities, particularly in areas like e-mobility, connected and autonomous driving, and electric vehicles. Through this acquisition, Infosys strengthens its engagements with leading German original equipment manufacturers (OEMs). The multidisciplinary team at in-tech, spread across Germany, Austria, China, the UK, and other locations, brings extensive industry expertise.

Former Defence Secretary Raises Rs 250 Crore VC Fund

Ajay Kumar, a former bureaucrat who retired as India's defense secretary in 2022, has ventured into the world of venture capital. He is now the chairman of Mounttech Growth Fund, a venture capital firm that has already raised over ₹250 crore in its first round, aptly named "Kavach."

The fund focuses on investing in startups operating in the fields of defense, deeptech, aerospace, and space. Kumar's transition from government assignments to finance and startups reflects his eagerness to explore new horizons. As he embarks on this second innings, he aims to create value for both the fund and the innovative startups it supports.

Mounttech Growth Fund aims to back early-stage startups operating in the defense, aerospace, and deeptech sectors. It has a total corpus of ₹250 crore (approximately $33.5 million). The fund has already secured approval from the Securities and Exchange Board of India (SEBI).

Mounttech Growth Fund seeks to support innovative ventures related to space technology, Aerospace and Deep Tech. The fund will also invest in companies leveraging cutting-edge technologies.

The first scheme of the fund is called "Kavach." MGF-Kavachh is a Category-Il AIF involved in the business of venture capital investments in Aerospace &, Defence, Space Tech and Deep Tech sectors.

The chairman of Mounttech is Ajay Kumar while the CEO of the fund is Ravi Sethi who is former senior telecom industry executive

The fund has onboarded retired armed forces officers, including former Indian Air Force chief RKS Bhadauria and former Indian Navy vice chief SN Ghormade, along with other industrialists and business professionals.

Ajay Kumar's transition from government service to venture capital reflects his commitment to fostering innovation and supporting startups in critical sectors. 

Suzuki to Support India's Social Entrepreneurs Via Newly Established $40 Mn Venture Fund

On July 4, 2024, Suzuki Motor Corporation established a wholly-owned subsidiary called "Next Bharat Ventures IFSC Private Limited" (referred to as "Next Bharat") and a fund named "Next Bharat Venture Fund-1" (referred to as "Fund") in India.

The purpose of Next Bharat is to support and invest in social entrepreneurs working in areas such as agriculture, financial inclusion, supply chain, and mobility.

Through this initiative, Suzuki aims to contribute to solving social issues in India through business ventures. The company also plans to invest in venture capital projects.

By nurturing and empowering social entrepreneurs, Suzuki aims to connect with the "Next Billion" people in India, extending beyond the mobility sector and becoming part of India's future story.

With a capital of INR 1 billion, Next Bharat is headquartered in Special Financial Zone GIFT City, Gujarat. The total investment of the fund-1 will be US $40 million.

Toshihiro Suzuki, President of Suzuki, said, "There are about 1.4 billion people in India, but we have only reached about 0.4 billion people. Next Bharat will focus on nurturing and empowering social entrepreneurs, who are passionately solving the problems of India. Through this, we will connect with the “Next Billion” people of India, extending beyond mobility and becoming a part of India’s future story.”

Suzuki began production and sales of automobiles in India in 1983, and has since been providing customers with mobilities including automobiles and motorcycles. Through the activities of Next Bharat, Suzuki aims to build ties with the people of India beyond the mobility sector and contribute to the further development of India.

Sam Altman No Longer Owns/Controls OpenAI's VC Fund for AI Startups

OpenAI has recently changed the governance structure of its venture capital fund, resulting in Sam Altman no longer owning or controlling the fund. This was documented in a filing with the US Securities and Exchange Commission (SEC).

The fund, which invests in early-stage AI-driven companies, will now be managed by Ian Hathaway, who has been a partner at the fund since 2021. This restructuring aims to provide further clarity regarding the fund's management and operations.

The change in the governance structure of OpenAI's venture capital fund was made to provide further clarity regarding the fund's management and operations. According to reports, the initial general partner structure was intended as a temporary measure to quickly get things started.

Ian Hathaway, who has been a partner at the startup fund since its inception, has now taken control, ensuring a more traditional and transparent governance structure. This move also addresses concerns raised about the unique ownership structure of the fund under Altman.

The VC Fund is investing $175 million raised from OpenAI partners such as Microsoft, and notable to know that OpenAI itself is not an investor.

The OpenAI Startup Fund, which so far has has invested in Speak, Harvey, Descript, Mem and AI Assistant Milo, selects companies to invest in based on several criteria. The fund look for early-stage startups with big ideas about AI that can have a profound, positive impact on the world. The sectors of interest include healthcare, law, education, energy & infrastructure, the sciences, and more. The fund is particularly interested in AI tools that can empower people by helping them be more productive.

Saudi Arabia's PIF Plans To Create $40 Billion AI Fund

Saudi Arabia's Public Investment Fund (PIF) is planning to create a significant $40 billion fund dedicated to investments in artificial intelligence (AI), reported The New York Times and confirmed by the CNBC, later on. 

This move is part of the country's efforts to diversify its economy and become a more influential player in global business and geopolitics. The fund aims to become the world's largest investor in AI, showcasing Saudi Arabia's ambition to go beyond its oil-rich legacy.

The PIF has been in discussions with top venture capital firms, including one of Silicon Valley's largest venture capital firms— Andreessen Horowitz, to explore potential partnerships.

The focus of the fund will be on AI startups, chip makers, and the expansive data centers necessary for the next generation of computing. This strategic initiative reflects the global trend of significant investments in AI, which is reshaping industries and economies worldwide.

Notably, Andreessen Horowitz, known for its investments in successful companies like Airbnb and Facebook, has a significant number of AI-related startups in its portfolio. The collaboration with such a firm could provide the PIF with access to a wide range of innovative AI ventures and expertise.

The potential partnership with Andreessen Horowitz could accelerate the PIF's ambitions to become a leading investor in the AI space.

Saudi Arabia's Public Investment Fund (PIF) is the sovereign wealth fund of the Kingdom, established in 1971. It is one of the largest sovereign wealth funds globally, with total estimated assets of around $925 billion. The PIF plays a central role in Saudi Arabia's Vision 2030, which aims to diversify the economy away from oil and invest in various strategic sectors. The fund has been actively investing in both domestic and international ventures, including real estate, infrastructure, and technology, to stimulate economic growth and create jobs.

Of late, the PIF has made billions of dollars of investment into stake purchases and joint funds with major international companies like Uber, Bank of America, Citi, SoftBank and Blackstone.

Singapore-based Leo Ventures Launches 10 Mn VC Fund for Tech Startups

Singapore-based venture capital firm, Leo Ventures, has announced the launch of 10 Million venture capital fund to finance technology startups.

As an incubator and accelerator, Leo Ventures is committed to fostering the growth of disruptive projects dedicated to empowering and nurturing visionary entrepreneurs.

Established this year, Leo Ventures is a pioneering Singapore-based venture capital firm dedicated to propelling the future of technology through strategic investments in early-stage technology projects.

Sonny Mohanty, Fund Manager at Leo Ventures while talking to The News Crypto, said, "We look at new investment opportunities through a founder and team lens – as the team executing the vision always comes first. We aim to get involved at the earliest possible stages and actively support our portfolio with all available resources."

Led by a team of seasoned tech entrepreneurs with decades of collective technology and investing experience, Leo Ventures actively assists tech startups in both web2 and web3 across APAC, India, and Middle East regions.

In web2, the fund engages with fintech, deep-tech, and ESG Tech, as well as AI and ML, and in web3, it supports projects related to DeFi, L0, L1, infrastructure, payment solutions, and web3 consumer tech projects.

The Leo Ventures team aims to provide a platform for the visionary, to accelerate their ideas, and make a lasting impact to support those at the forefront of tech & innovation.

Addressing the fund’s vision, Mr. Kishor, Managing Partner of Leo Ventures, said in a press release — “What sets us apart is not just our investments but our commitment to rewriting the playbook. We're taking a distinct path—prioritizing visionary founders, embracing diverse tech ideas, and actively sculpting success.”

Japan's Incubate Fund Asia Elevates Indian and Southeast Asian Startup Ecosystem with New Partner Appointments

Leading Venture Capital Fund Strengthens Leadership Team with Expertise in Nurturing Startups

Incubate Fund Asia, a sector-agnostic Japanese Venture Capital Fund specializing in seed-stage investment, has announced the promotion of two of its Principals, Rajeev Ranka and Dave Kwong, to Partners in the fund. The promotion of these two Principals reflects their significant contribution to the fund and their expertise in the Indian and South East startup ecosystem. The move comes as the fund aims to build a portfolio of around 20 startups with its third fund, which has a target corpus of $50 Million.

Rajeev Ranka and Dave Kwong have been instrumental in the success of Incubate Fund Asia’s India-focused entity, which was recently rebranded to enhance focus on pre-seed and Seed-stage startups in India and South East Asia. They have been with the fund for several years and have played a key role in identifying and nurturing promising startups in the region. In their new roles as Partners, Rajeev and Dave will continue to work closely with the founders and entrepreneurs in shaping the future of their startups. They will also play a key role in the fund’s investment strategy and portfolio management.

Rajeev Ranka joined Incubate Fund Asia in early 2020 as a Principal for India investments. He is an IIT Bombay graduate and has been leading India investments for the fund. Dave Kwong is a Partner at the fund and has been with the fund for several years. He has been instrumental in the investment and development of early-stage startups in South East Asia.

Commenting on the promotion, Rajeev Ranka, Partner at Incubate Fund Asia said, "I am excited to take on this new role and continue to work with the experienced team at Incubate Fund Japan and Asia to support the growth of early-stage startups in India. We have a strong track record of identifying and investing in promising startups, and I look forward to building on that success in my new role as Partner."

Dave Kwong added, "I am honoured to be part of this team as always and looking forward to continue to work with our team at Incubate Fund Asia to identify and invest in the most promising early-stage startups in the region. We have a unique opportunity to support the growth of the entrepreneurial ecosystem in India and Southeast Asia, and I am excited to be a part of that effort."

Mr Nao Murakami, Founder and General Partner of Incubate Fund Asia on the announcement, said, "We are thrilled to promote Rajeev Ranka and Dave Kwong to Partners in the fund. They have been instrumental in the success of our India-focused entity and have a deep understanding of the startup ecosystem in the region. We are confident that they will continue to play a key role in identifying and nurturing promising startups in India and Southeast Asia."

Incubate Fund Asia remains deeply committed to its vision of nurturing innovation and catalyzing the growth of startups, ultimately contributing to the development of a thriving entrepreneurial ecosystem across Asia. The fund has backed 27 Indian companies across B2B, B2C, supply chain, and consumer tech segments across both tier 1 and tier 2 markets with $500K to $1.5 million average deal size. It expanded to India in 2016 and started Incubate Fund India, which was recently rebranded as Incubate Fund Asia. 

The fund's strategy is to invest in pre-seed and Seed-stage startups in India and Southeast Asia, The recent announcement of the first close of their third fund with a target corpus of $50 million is a testament to their commitment to supporting early-stage startups in the region.

About Incubate Fund Asia

Incubate Fund, originating from Japan, is a renowned venture capital fund specializing in seed-stage investments. With a history of nurturing over 200 startups in Japan and Asian regions, they expanded to India in 2016 and started Incubate Fund India which was rebranded recently as Incubate Fund Asia. They actively engage with startups, offering hands-on support and mentorship, making them a vital partner for entrepreneurs. Incubate Fund Asia takes on a prominent role as a lead investor by committing a substantial 80% of its funds to Indian startups. This commitment spanned various sectors including B2B, B2C, Supply Chain, and consumer tech market.

For more information about Incubate Fund Asia, please visit their website at www.incubatefund.in.

Antler India Closes ₹500 Cr of Its Maiden ₹600 Cr India-Focussed Fund

Antler India, the Indian arm of global early-stage investment platform, Antler, which focuses on pre-seed startups, has closed ₹ 500 crore of its maiden ₹ 600 crore ( ~ $75 million) India-focussed fund. Antler India is expecting to make the final close this quarter, reported Economic Times.

The India-focussed fund, which is separate from the global Antler franchise, has been in the making for almost one and a half years.

About ₹325 crore of the total corpus raised has seen participation from domestic pools of capital, including from Small Industries Development Bank of India (SIDBI). Other investors in the fund included sovereign entities, healthcare endowments as well as Antler’s global limited partners.

The India focused fund’s investments are expected to be more founder-led than sector-related, said the ET report citing Rajiv Srivatsa, cofounder and GP of Antler India.

Antler India's average cheque size is around $300,000 for 7–9% in the company.

From this corpus, Antler India is looking to back nearly 100 early-stage startups at the idea to pre-seed stage in next 3-4 years, and will reserve nearly half of the fund's corpus for the new investments while the remaining will be to double-down on top performers from its existing portfolio companies.

To date, Antler India has completed nearly 40 investments, with 28 companies receiving funding and the rest currently in the final stages of documentation. Antler India's investments span a range of sectors, including SaaS, consumer services, Web 3, and fintech.

Some of Antler India's investment include Bold Finance, Bookee, Cricinshots, Finverv, Flint, Gladful, Humit, Plotch.AI, InspeCity and Salad. 

Incubate Fund Asia Announces Ist Close of IIIrd Fund, Aiming for $50 Mn to Fuel Startup Growth in India

This is the third fund from the Japanese VC in India which specializes in seed-stage investment

Incubate Fund Asia, a sector-agnostic Japanese venture capital fund specialising in seed-stage investment today announced the first close of their third fund which has a target corpus of $50 Million (around INR 416 crores). This accomplishment underscores their steadfast commitment to fostering the growth of startups and propelling them towards remarkable success. Incubate Fund’s India-focused entity has now been rebranded as Incubate Fund Asia, to expand focus on supporting pre-seed and seed-stage startups in India and South East Asia (SEA). The proceeds of the fund will be used to make early-stage investments and also for follow-on investments in startups that have shown strong fundamental growth. The fund aims to build a portfolio of around 20 startups with the third fund. The fund will invest only 40 per cent of its total investible corpus to create the portfolio and then use the balance to back the 'winners' in its portfolio.

Incubate Fund has firmly established itself within India’s dynamic startup investment landscape and since 2016, the fund has taken on a prominent role as a lead investor by setting up a dedicated fund for Indian startups. With a global presence, Incubate Fund Group maintains offices in key locations, including Tokyo, Singapore, Bangalore, Mumbai, São Paulo, and Mountain View. Some notable portfolio investments include Captain Fresh, Yulu, ShopKirana, Plum etc. Incubate Fund Asia has played a pivotal role in nurturing these startups, expertly guiding them towards achieving market leadership positions within India.

In a strategic and forward-thinking move, Incubate Fund India has undergone a significant transformation, emerging as Incubate Fund Asia. This rebranding initiative signifies a deliberate alignment of the organization's brand identity with its broader vision and extensive outreach within the Asian startup ecosystem. Positions itself to better encompass its regional ambitions and emphasize its commitment to fostering innovation and entrepreneurial endeavours throughout the Asian continent. Incubate Fund Asia was founded and has been led by Mr Nao Murakami, Founder and General Partner of the fund, with support from Incubate Fund’s Japan team.

Nao Murakami, Founder and General Partner of Incubate Fund Asia, expressed his enthusiasm about the fund's focused objectives. "Our mission is to empower startups and fuel innovation across Asia. With the target fund closure of $50 million, we will be ready to significantly enhance our support to emerging ventures, driving sustainable growth and innovation. Incubate Fund Asia remains deeply committed to its vision of nurturing innovation and catalyzing the growth of startups, ultimately contributing to the development of a thriving entrepreneurial ecosystem across Asia.”

Sumit Ghorawat, Co-Founder of ShopKirana, expressed how Incubate Fund’s support has been pivotal for ShopKirana’s journey. He stated, “Incubate Fund Asia is everything that we look for in an investor and is definitely one of the top folks to have on your cap table and board. I feel proud to say ShopKirana was the first investment of Incubate Fund in India back in 2016, since then we have raised 4 rounds and they continue to back us in each of them. They have stuck with us during highs and lows, always pushing us to do better, giving us complete access to their rolodex and so much more. Over the years I have found the team at Incubate Fund to be one of the best to collaborate with and get perspectives from. Incubate Fund's team will move mountains for you to help you on your startup journey.”

The fund has provided invaluable support to 27 Indian companies, including notable ventures like ShopKirana, the innovators behind a groundbreaking retail merchandise procurement app, and Captain Fresh, trailblazers in the B2B seafood trading sector. Their investments are broad in scope, encompassing B2B, B2C, Supply Chain, and consumer tech startups operating across both Tier 1 and Tier 2 markets. The contributions made by Incubate Fund Asia are pivotal in advancing business digitization and innovation, consistently investing in the $500K to $1.5 million range. In the year 2019, Incubate Fund launched a USD 18 million Fund II.

About Incubate Fund Asia

Incubate Fund, originating from Japan, is a renowned venture capital fund specializing in seed-stage investments. With a history of nurturing over 200 startups in Japan and Asian regions, they expanded to India in 2016 and started Incubate Fund India which was rebranded recently as Incubate Fund Asia. They actively engage with startups, offering hands-on support and mentorship, making them a vital partner for entrepreneurs. Incubate Fund Asia takes on a prominent role as a lead investor by committing a substantial 80% of its funds to Indian startups. This commitment spanned various sectors including B2B, B2C, Supply Chain, and consumer tech market.

https://www.incubatefund.in/

Unicorn India Ventures Announces Ist Close of Fund III at INR 225 Crore

(L-R) Anil Joshiv& Bhaskar Majumdar

• Total fund size is Rs 1000 crore
• Aims to build a portfolio of startups with focus areas including agritech, space tech, aerospace and semiconductor ecosystem
• Average first cheque size of $1 – 2 Million
• Final close expected by March 2024
• From its first fund, Unicorn has returned more than 2X cash within the fund life and with assets worth 6X still under management
• Appoints two key senior personnel Bikram Mahajan and Kamlesh Ahuja to strengthen the management team

Mumbai-based Unicorn India Ventures (UIV), one of the most successful early-stage fund house with a pan India presence, has announced the first close of its Rs 1000 crore Fund III. The first close is reached at Rs 225 crore and final close is expected by March 2024.

With this Fund, UIV aims to build a portfolio of 25 startups that are focused in global SaaS and digital platforms, Unicorn India’s expertise areas. From the sector's perspective, the Fund is looking at newer sectors of climate tech, agritech, spacetech and the semiconductor ecosystem.

Started in 2016 by Bhaskar Majumdar and Anil Joshi, Unicorn India Ventures is a technology focused early-stage venture fund that invests in startups in emerging sectors. Post the success of the First Fund, Unicorn India Ventures launched Fund II, a Rs 300 crore fund launched in 2020 and has demonstrated exceptional growth, with several of the portfolios raising multiple rounds in the first two years after the initial investment. The second Fund has a portfolio of 20 companies. With two funds under management and an active portfolio of over 35 companies, UIV has repeatedly demonstrated their ability of picking unique startups. Most of the startups within the current portfolios are already profitable or have a clear path to break-even.

With the Fund III, Unicorn India Ventures would continue with their strategy of being the “first institutional investor”. The Fund would look at investing a first cheque of around $ 1 -2 million dollars and would then look to invest in the follow on round. As a part of their investment thesis, UIV invests only 20% of its investible corpus to create the portfolio and the rest to back the winners of the portfolio.

Bhaskar Majumdar, Managing Partner, Unicorn India Ventures says, “We continue to identify innovative business models with faster scalability. The metrics for us is a clear path to profitability for the companies. Being the first institutional investors, before doing any investment we spend considerable time with the founders to understand their vision, team’s capabilities, growth plans and leadership style. Our focus is to invest in companies that are enablers of India’s digitisation across sectors. We avoid high cash burn businesses like D2C, Consumer Internet, content businesses.”

We believe the raison-d'etre of our existence is to give cash returns to our investors and in this regard, we are clearly one of the best performing funds. We are focussed on bringing newer pools of capital to the country both for co-investments in our portfolios as well as for secondary divestments. Over the years, we have built strong relationships with international funds and family offices that don’t have a physical presence in India but are keenly looking at the India growth story, he adds.

Anil Joshi, Managing Partner, Unicorn India Ventures says, “We have always believed in the Bharat story as much as the India story. While we have invested in startups from Delhi, Mumbai and Bangalore but over 60% of our portfolio is built from startups coming from emerging regional hubs like Kochi, Jaipur, Ahmedabad, Pune and Hyderabad amongst others. Unicorn is perhaps the only fund which has worked tirelessly with state govt in Kerala, Orissa, Madhya Pradesh to roll out startup policy with an aim to find high potential startups from tier 2 and 3 cities. Our key differentiator is that we are present across India and believe that India’s startup landscape has changed immensely over the past couple of years. With this third fund, our commitment to nurture Indian startups will be unwavering and we will keep scouting for highly innovative companies whose disruptive solutions can address real life problems of users by leveraging technology.”

Unicorn India Ventures has also announced senior hiring for Fund III.

The fast-growing team is joined by Bikram Mahajan as a Partner. Bikram will play a key role in the next phase of the Fund’s growth, with a primary emphasis on portfolio management and nurturing the growth of investee companies. Bikram comes with 20 years of experience in private equity and investment banking with the last decade in fund management. He is an alumnus of IIM Calcutta. Discussing his new responsibilities, Bikram Mahajan, Partner, Unicorn India Ventures, says, “Leveraging my track record and experience, I aim to contribute my knowledge, network and expertise to help the fund scale its business.”

Kamlesh Ahuja joins as VP (Fund Operations) responsible for all compliance and back-office administration for all the Funds. He has 15 years’ experience in fund operations with large cross sector funds as well as with trustees.

Started in 2016 by Bhaskar Majumdar and Anil Joshi, Unicorn India Ventures is a technology focused early-stage venture fund that invests capital in emerging and visionary startups. Unicorn India Ventures launched its first fund with a corpus of Rs 100 crore From its first Fund, UIV has invested in 17 companies like SmartCoin, Open Bank, Sequretek, Pharmarack, Genrobotics, Clootrack, FutureCure to mention some. The Internal Rate of Return (IRR) was more than 60 percent year over year. The Fund has emerged as the best performing early stage fund in India with the stellar exits provided by the fund to its LPs.

Fund II is a Rs 300 crore fund launched in 2020 that has invested in 20 companies so far like Gamerji, ForeignAdmits, Probus, Daalchini, Esmito, Finin. Most of the portfolio is scaling up fast and has had several uprounds.

Dallas Venture Capital (DVC) Secured a Commitment of INR 60 Crores from Self Reliant India (SRI) Fund & NewcrestImage,

The funds received will be invested for fostering growth of MSMEs

Dallas Venture Capital (DVC), a cross-border venture capital firm, has received commitments for INR 60 crores from Self Reliant India (SRI) Fund, a domestic Fund of Funds and NewcrestImage, a diversified Family Office with holdings in Real Estate, Banking, Debt Fund, Alternative Investments, and Public Equities who have joined as Limited Partners (LPs) in DVC’s India Fund contributing to its targeted corpus of INR 350 Crores. DVC India Fund has already attracted investments from many domestic and international Family offices and HNIs from across the world who are excited to participate in the India growth story through DVC’s thesis led and focussed investment strategy and have joined as LPs in the fund.

DVC India has got commitments worth INR 40 crores from Self Reliant India (SRI) Fund & INR 20 crores from NewcrestImage and its associates. DVC India will utilize these funds to support faster growth of Micro, Small and Medium Enterprises (MSMEs) helping in the overall economy building & strengthening and maximizing employment opportunities.

DVC, based out of Dallas, Texas, USA and Hyderabad, India, has already invested in MSMEs like Disprz (an AI-Powered Enterprise Learning Experience & Upskilling Platform), Intellewings (Cutting-edge AML/CFT Compliance Solution Provider), BluSapphire (AI/ML & Robust Analytics backed Cybersecurity platform), VuNet (Next-gen visibility and analytics company that uses full-stack Al & Big Data analytics to accelerate digital transformation within an organization) and Hippo Video (AI-powered platform that allows users to craft compelling sales videos that drive engagement and conversions). With nearly Rs. 1,000 Crores ($125M), DVC is committed to deploying the funds and helping MSMEs across sectors to scale globally over the next few years. Portfolio companies of DVC are supported in their growth strategy through the uniquely designed DVC Advantage where DVC’s global team of partners and advisors help the portfolio company with their Go-to-Market (GTM), product and growth strategies.

Sharing his thoughts, Mr Dayakar Puskoor, Founder and Managing Director of Dallas Venture Capital, said, “Through these funds, we will make strategic investments in MSMEs which make technologies that help make India self-reliant and help them expand globally. We will help these MSMEs grow through DVC’s unique partnerships and global industry networks.”

With a corpus of INR 10,000 Crore, the SRI Fund is a fund of funds, setup as a scheme of NSIC Venture Capital Fund Limited, a wholly-owned subsidiary of The National Small Industries Corporation Limited and managed by SBICAP Ventures Limited, that catalyzes capital flow in the MSME space. NewcrestImage is a privately held family office investment firm based in Dallas, Texas, with an extensive portfolio of diversified real estate assets and alternative investments. NewcrestImage has invested more than $2.7B across 148 cities in hotels, real estate and technology-based startups.

About Dallas Venture Capital (DVC): DVC is a Dallas TX, US and Hyderabad, India based venture capital firm investing in cloud infrastructure, B2B SaaS, AI/ML, mobile, XR and other emerging technologies. In addition to providing capital and financing needs, our investment philosophy centers around guiding business development, product, and technology strategy for our portfolio companies through the ‘DVC Advantage’ program to achieve successful outcomes. Operating from both the US and India, DVC creates a bridge that connects two of the largest start-up ecosystems in the world. DVC is founded by Dayakar Puskoor, a pioneering Dallas based venture capitalist with a record of investments in 30+ companies and 9 exits to date, and Abidali Neemuchwala, the former CEO of Wipro Ltd.

Apple Commits $25 Mn in VC Funds for Minorities, Women-led Startups

Tech giant Apple is investing an additional $25 million to three investment funds working with minority-owned businesses, under the company's Racial Equity and Justice Initiative (REJI), announced the company on Wednesday.

This $25 million will be infused in Collab Capital, Harlem Capital and VamosVentures and would boost Apple's venture capital support for diverse businesses, to $50 million.

Notably, Collab Capital is an investment fund that provides social and financial resources to companies owned by Black Founders. Apple is already among Collab Capital's limited partners.

Harlem Capital is a seed-stage generalist fund focused on investing in minority and women founders. In January 2021, Apple announced to invest $10 million over the next 20 years with Harlem Capital to fund startups with diverse founders and $25 million in the Clear Vision Impact Fund for capital loans to small and medium-size businesses, with an emphasis on minority-owned companies.

While, VamosVentures is first Latinx-owned venture fund to focus on Latinx and other diverse founders. Apple became VamosVentures' partner in May 2021.

Apple, which also counts indigenous communities among minorities, has more than doubled its initial financial commitment towards racial equalities to total more than $200 million over the last three years.

Apple also released its first-ever REJI Impact Overview, which provides a snapshot of the initiative’s impact across its areas of focus.

Apple claims that from 2020 to 2023, it has significantly increased business with Black-, Hispanic/Latinx-, and Indigenous-American-owned companies. The company says that in 2023, 45% of the business awarded to vendors who built Apple’s new North Carolina campus were Black-, Hispanic/Latinx-, or Indigenous–American-owned companies.

Dallas Venture Capital ('DVC') Announces Closing of $80 Mn Early-Stage B2B SaaS Fund-II in the US

DVC today announced the closing of an oversubscribed $80 million fund (the target amount was $75 million) and is set to become one of the largest technology focused funds to operate out of Dallas, Texas, USA. DVC is also currently raising a separate fund in India, DVC India Fund 1, to provide opportunities to Indian investors and has raised $20 million of its $50 million target. 

DVC US Fund II plans to invest alongside its $50 million India fund, making it a true cross-border venture capital fund that is poised to bootstrap two large start-up ecosystems in the US and India. DVC plans to invest about $130 million in Enterprise focused B2B SaaS start-ups over the next 4-5 years through both its funds.

DVC was founded in 2020 by Dayakar Puskoor, a serial entrepreneur, and co-founded by Abidali Neemuchwala, former CEO of Wipro Limited and a 30-year veteran public company, information technology, and investment executive. The DVC team spread between the US and India is a fine blend of entrepreneurs and industry leaders with global technology and investment experience. The fund focuses on early and growth stage companies in B2B SaaS sector focused on leveraging deep tech in the areas of cloud, AI/ML, XR, Data, and other emerging technologies with infrastructure software or industry vertical focus. 

DVC is known for its proprietary sourcing methodology through its extensive network of advisors that include CIOs, CXOs, industry experts, and technologists. The team has invested in 27 start-ups which include companies across the US and India with 9 successful exits over the last decade. Some of the portfolio companies like HyperVerge and Corestack have emerged as leaders in their respective segments.

"We are overwhelmed by the response to our DVC Fund II and particularly pleased with the recognition as a cross-border VC by our investors as they benefit from the start-up revolution that is taking place in India,” said Dayakar Puskoor, Managing Director of DVC. “The extensive due diligence performed by our strategic investors has sharpened our investment thesis. The continued guidance of our strategic investors and advisors are going to help us create differentiated value for our portfolio companies,” added Puskoor.

“We partner with our portfolio companies as mentors offering strategic guidance during the most important phase of the start-up's journey to accelerate their revenues from $1 million to beyond $10 million through our time tested and honed DVC Advantage program leveraging our network of venture partners and advisors,” said Abidali Neemuchwala Co-founder & Director of DVC. “Our experience and familiarity with both US and India enable us to bring exceptional operational and growth strategies to our portfolio companies,” added Neemuchwala.

“The completion of fundraise of US Fund II, which is a co-investing partner for DVC India Fund, is a significant milestone in DVC’s journey. We are confident that both the funds, which are truly cross border in nature, will emerge as significant contributors to the growth of Indian SaaS start-ups,” said Shyam Penumaka, Partner at DVC. “Currently, the focus of DVC India Fund is on raising the remaining capital from institutional investors, family offices, and high net worth individuals keen on participating in the flourishing Indian deep technology B2B SaaS sector,” added Penumaka.

DVC has begun deploying its fund and has already invested in four start-ups, as announced earlier – Lucy.ai, Rollick, Citylitics, and Disprz. DVC has a healthy pipeline of companies and plans to, on average, invest in one company per quarter for a total of approximately 20-25 companies over the next 4-5 years. DVC’s typical investment stage is post-product market fit, and its initial capital is focused on enabling the start-ups to scale through its DVC Advantage Program. DVC India Fund has made investments in the Enterprise skilling start-up, Disprz, and Anti-Money Laundering (AML) start-up, IntelleWings.

The DVC Advantage is focused on start-up companies’ needs in multiple areas such as product & technology strategy, executive mentorship, corporate governance, business development, and talent acquisition. DVC is committed to helping portfolio companies transform their growth journey by providing strategic guidance across product, domain, strategy, customer success and growth, or financial specific matters.

“DVC comes with a mindset to be very helpful to the founders from day one. The level of intent they have shown in using their network to help us land logos in the US is very comforting for the founders. I would highly recommend DVC for an early stage founder who wants to go west from the east,” said Subbu Vishwanathan, Co-Founder & CEO, Disprz, an enterprise skilling start-up with investment from both DVC India Fund and DVC US Fund II.

About Dallas Venture Capital

DVC is a Dallas TX, US and Hyderabad, India based venture capital firm investing in cloud infrastructure, B2B SaaS, AI/ML, mobile, XR and other emerging technologies. In addition to providing capital and financing needs, our investment philosophy centers around guiding business development, product, and technology strategy for our portfolio companies through the ‘DVC Advantage’ program to achieve successful outcomes. Operating from both the US and India, DVC creates a bridge that connects two of the largest start-up ecosystems in the world. DVC is co-founded by Dayakar Puskoor, a pioneering Dallas based venture capitalist with a record of investments in 25+ companies and 9 exits to date, and Abidali Neemuchwala, the former CEO of Wipro Ltd.

Oz Firm Atlassian Launches $50 Mn Venture Fund to Tap India's Cloud Startup Ecosystem and Dev Community

The company looks to tap into India’s fledging startup and developer community

Atlassian Corporation Plc (NASDAQ:TEAM), a leading provider of team collaboration and productivity software and the maker of Jira, Confluence, Bitbucket and Trello products, has announced the launch of Atlassian Ventures, a new US$50 million fund that will invest into the up-and-coming startups, including established companies that are building products in the overall Atlassian ecosystem. The company which set up its world-class R&D centre in Bangalore last year and with plans to expand it further, is keen to interest India’s vibrant startup ecosystem and rich technical talent pool. 

Atlassian Ventures, with the objective of supporting cloud-based products and services will invest in three types of companies. Firstly, the early-stage startups, who are building apps for any of Atlassian’s cloud products, whether it be - Jira, Confluence, Bitbucket or Trello. Secondly, the larger, more established ecosystem product partners scaling their businesses. These investments will be made in partnership with institutional investors and will generally target series A onwards. And finally, the existing sales channel partners looking to step up their cloud services and create new products that support the future of teamwork.

On the company being extremely bullish about the India market, Dinesh Ajmera, Site Lead and Head of Engineering, Bengaluru, Atlassian said, “Atlassian Ventures is a global program with the objective of supporting cloud-based products and services and unleashing the potential of teams all over the world. With India’s cloud market among the largest in the Asia Pacific region, we believe this fund will be an ideal opportunity for up-and-coming startups in India to access funding when building apps for our cloud products. India is a significant market for Atlassian, one that’s teeming with an extraordinary developer community and a vibrant startup ecosystem that we plan to tap into.”

“We have kept the applications open to our existing Marketplace Partners and developers, as well as new-to-Atlassian app developers who are looking for the first funding for their start-ups. As part of this program, companies that receive funding are also eligible for mentorship as well as global exposure at Atlassian events,” he further added.

As more and more customers transition to Atlassian’s cloud products, the company is committed to supporting their journey by fostering a robust ecosystem of cloud-based apps that enhance their experience and satisfy all use cases. Atlassian has 4,200+ apps already available in its Marketplace and offers integrations with popular tools like Slack, Zendesk, and GitHub.

To further consolidate its offerings and capabilities, the company has recently acquired a slew of companies in the ecosystem, which include Code Barrel (the company behind Automation for Jira), Mindville and Halp – the creator of Slack.

Atlassian serves more than 174,000 customers worldwide and has been named a “Best Place to Work” by Great Place to Work Institute in every market where they have a staff presence.

About Atlassian

Atlassian unleashes the potential of every team. Our team collaboration and productivity software helps teams organize, discuss, and complete shared work. Teams at more than 174,000 customers, across large and small organizations - including General Motors, Walmart Labs, Bank of America Merrill Lynch, Lyft, Verizon, Spotify and NASA - use Atlassian’s project tracking, content creation and sharing, and service management products to work better together and deliver quality results on time. Learn more about our products, including Jira Software, Confluence, Trello, Bitbucket, Opsgenie, Jira Service Desk, and Jira Align at https://atlassian.com/.