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The VC firm, set up by former Mindtree founders Krishnakumar Natarajan and Parthasarathy NS, will back companies in the business-to-business (B2B) segment. government’s fund of funds Sidbi (Small Industries Development Bank of India) contributed a significant portion of the fund, while the rest came from investors such as Nippon India Digital Fund and several family offices and ultra-high net worth individuals (UHNIs), the company said. The company will write cheques ranging from $2 million to $10 million and will look at raising a larger second fund once it fully deploys the current one by the end of 2023, Parthasarathy said. The firm is looking to invest in 14-16 companies from its first fund.
Mumbai