Venture capital (VC) firm BoldCap recently announced the opening of its second fund, which has a $25 million corpus.
BoldCap’s new fund will focus on investing in Indian early-stage B2B software-as-a-service (SaaS) startups that have global aspirations. The company aims to make investments in 15-20 early-stage SaaS startups within the next 2-3 years, as per reported By Inc42.
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BoldCap secured the investment for its new fund from various global institutions and family offices.
“Global B2B software companies are being built out of India right now, and a lot of them are founded by product or engineering teams. This is why a GTM (go-to-market) focused early-stage fund, with collective knowledge and industry connections to help them scale quickly will sit perfectly within the existing VC ecosystem in India,” said BoldCap founder and General Partner Sathya Nellore.
BoldCap, which was established in 2021 by Nellore, mainly focuses on investing in B2B SaaS startups at the pre-seed and seed-stage levels. These startups are based out of India and provide services to a global customer base. The company’s first fund, launched in 2021, had a total amount of $5 million, and it has invested in 10 firms to date, such as Spendflo, TestSigma, and Spotdraf.
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According to BoldCap, the startups included in its Fund I portfolio have collectively secured over $70 million in follow-on funding in the last year. The company further reports that four of its portfolio startups already have an annual run rate (ARR) of $1 million.
Specifying his investment thesis, Nellore said that the fund is betting on Indian entrepreneurs with bolder and global ambitions, adding that more and more SaaS companies are being built from India and for the world.
BoldCap helps entrepreneurs worldwide with early-stage venture capital.
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