Good Capital Closes $30Mn Second Fund to Back AI-Driven Startups

Early stage venture capital firm Good Capital has raised $30 million ( around Rs 260 crore) in the final close of its second fund. 

The firm’s startup portfolio includes meesho, Orange Health, and LEAD School.

Launched in 2023 with a $35 million target, its new fund has attracted commitments mainly from family offices in Asia and Europe. With this fund, Good Capital aims to back new-age, technology-first startups, particularly those leveraging AI.

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Good Capital has started deploying the fund, investing in instant pharmacy delivery startup Rio, digital freight forwarding platform Xhipment, and consumer appliances company Nuuk, among others.

“With Fund 2.0, we doubled down on high-conviction founders solving hard, real-world problems with clarity, intent and deep insight into user behaviour. This phase has reinforced our belief that India’s next wave of breakout companies will emerge at the intersection of AI, infrastructure and global ambition,” said Arjun Malhotra, General Partner at Good Capital.  

Good Capital’s first fund, launched in 2019 with a $15 million target, ultimately deployed around $44 million, including LP co-investments, supporting 30 startups—exceeding the target of its current fund. 

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The firm said that early success with startups using verticalized, workflow-specific AI solutions and modern infrastructure to empower Indian manufacturers and exporters.

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