Strategic Ventures Fund II has launched a $50 million growth accelerator early-stage fund for investment in technology-focused startups and businesses in India and South-East Asian region.
“The fund targets a portfolio of a hundred companies over the next 48 months. The focus would be on risk assessed, disciplined, early-stage investing in curated high traction startups,” said Atim Kabra, director, Strategic Ventures Fund II in a statement.
“The ability to add value through sales funnel enlargement would be a key metrics while evaluating an investment,” the statement added.
Strategic Ventures Fund II will provide funds and expertise to the short-listed companies from its pool of sponsors, board members and co-investors.
J Diwan, founder of Odyssey Asset Management, Vipin Aggarwal, Jyoti Prakash, Dinesh Kamath are involved in the management of the fund.
Strategic Ventures Fund II is sponsored by four high net worth individuals -- HP Singh, chairman, Satin Creditcare; Atim Kabra, founder, Frontline Strategy Funds; V. Raman Kumar, chairman, Aeries Technology Group and Mukesh Dave, co-founder, Aravali Investment Management.
Recent developments in fundraising
Last week, Singapore-based Temasek Holdings’ Vertex Ventures closed its South East Asia and India focused funds at $305 million. The fund had raised $230 million at it first close.
Mumbai-based Lightbox closed its third fund with commitments worth $209 million from 28 limited partners.