Axilor Ventures, an early-stage enterprise capital (VC) agency based in 2014, mentioned it plans to launch a second fund known as Axilor expertise fund (ATF) – 2 with a complete corpus of $100 million, nearly 4 occasions the dimensions of the primary fund.
The new fund will take a look at “emerging opportunities” within the enterprise software-as-a-service (SaaS), business-to-business (B2B) commerce, agritech, client tech, fintech, and well being tech. Its prolonged tenure will permit an extended keep within the firms and has a better follow-on reserve, the corporate mentioned in a press release. Axilor mentioned it’s going to put aside 30% of this new corpus for investing in 10-12 winners from its first fund, ATF-1.
The ATF- 1, was launched in 2018 and invested in 54 startups. It claims to have “an industry-leading follow-on rate of over 75% with 21 startups having already crossed Series A and beyond.” Its portfolio firms embrace Detect, Enkash, Headfone, Locofast, Loco, Medfin, Niramai, Urban Piper, Vyapar and Wiz.
“There is no better time to invest in innovation coming out of India. We are excited to partner with entrepreneurs through our new fund. We have built a well-respected brand among founders and VCs. With our first fund, we have demonstrated our deep engagement model and a programmatic approach that predictably delivers better outcomes for startups,” mentioned Ganapathy Venugopal, co-founder and CEO.
The VC agency was based and backed by Indian tech pioneers like Kris Gopalakrishnan, SD Shibulal, Tarun Khanna, Srinath Batni and Ganapathy Venugopal.
Source: www.financialexpress.com”