As part of its second fund, early-stage venture capital firm Sprout Venture Partners has raised nearly $10 million. Sprout VP raised $5 million in its first fund, which was distributed among 13 companies.
Read also – [Funding alert] Gaurav Taneja and Ritu Rathee Taneja Join thebabybo as Partners and Investors
With an average check size of $500,000, Sprout will distribute the second fund among 12 to 15 companies, primarily concentrating on pre-seed to pre-series A rounds. Regarding Industries, Sprout intends to invest in two: the play of consumption arising from India’s demographic profile and the play of innovation arising from technological talent.
Read also – [Funding alert] DroneTech Startup Suind Secures Seed Funding Led by Sunicon Ventures
“We have made a few exits (from the first fund) and it is on course to deliver top quartile returns. We will continue to invest with the same strategy in Fund II, but with a higher initial cheque size and more follow capital,” said Sahil Gupta, managing partner, Sprout VP.
Read also – [Funding alert] Miraggio Secures $1.2 mn in Pre-Series A Funding
About Sprout Venture Partners
Sprout Venture Partners is an early stage venture capital fund, focussed on investing in technology and consumer businesses. Sprout Venture Partners Fund is a SEBI registered Category-I Alternative Investment fund. It has been created to institutionalise India’s active angel investing market and is backed by prominent first and second generation entrepreneurs.Sprout seeks to invest and work with founders having powerful vision, attentive execution, and resolute ambition to solve problems addressing large markets by building scaleable businesses.
Read also – BIRA 91 Appoints Manoj Kohli and Bharat Anand As board Member
