Sep 09, 2020 | AS Team
The strategic seed funding company, StartupXseed Ventures, which had introduced the Aaruha Technology Fund in 2015, to invest in high-tech startups, has made the initial close of its second investment fund – at INR 65 Cr and is in the hopes of hoisting a total of INR 200 Cr throughout the following 6-9 months.
As reported by Mint, the platform will zero in on putting down wagers across Deep technologies, which includes cybersecurity, health tech, fintech, artificial intelligence, and machine learning.
Fund II additionally has a green shoe alternative of INR 50 Cr. It has been supported by various family workplaces and experts from the IT sector.
BV Naidu, alongside previous Infosys executive, TV Mohandas Pai: the cofounder of Aarin Capital as well as V Balakrishnan, J.A Chowdhary, and Ravi Thakur founded StartupXSeed back in June 2015.
As per BV Naidu, the managing partner of the platform, and Ravi Thakur, co-founding partner, the General Partners of the fund have till now contributed a bit over a third of the total fund corpus, with the platform likely to appeal to institutional investors to contribute in the following months. As reported by the ETtech, Naidu also stated that the platform will hope to make 15-odd investments, composing a first check of between INR 3 Cr and INR 10 Cr.
Thakur stated that around 12 organizations presently lie under the platform's radar, which functions across the ad-tech, cloud-tech and Internet of Things (IoT) areas.
The platform has made about 12 infusions from Fund-I, marking around three exits till now.