Early-stage venture fund Stellaris Venture Partners has completed the first close of its US$100 million maiden fund, it announced today. Contributions to the tech-focused firm’s Fund I come from corporates like Infosys, entrepreneurs, financial institutions, and family offices in the US, Europe, and Asia.
The fund – run by former Helion Venture Partners executives Ritesh Banglani, Alok Goyal and Rahul Chowdhri – will focus mostly on series A stage investments to tech business solving India-specific problems. Focus areas include local language online services, technology-led financial inclusion, supply chain networks, machine-learning applications, and global software-as-a-service (SaaS) businesses.
A helpful side effect of the investment money is the network built around it – over 50 entrepreneurs and business professionals in India and abroad – who will help identify investments, serve as advisors, and co-invest with the fun.
The network includes Taxiforsure co-founders Raghunandan G and Aprameya Radhakrishna, Indify founder Alok Mittal, Capillary Technologies founder Aneesh Reddy, Helion and Fireside Ventures founder Kanwaljit Singh, and Neeraj Agarwal, India head of the Boston Consulting Group.
Stellaris has made two series A investments already, including one in Wydr, a mobile marketplace for businesses.
See: New funds in 2016 you need to know about
This post New Stellaris fund wants to give India’s tech startups a $100m leg up appeared first on Tech in Asia.
from Tech in Asia https://www.techinasia.com/stellaris-venture-partners-closes-100m-fund
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