Early-Stage VC StartupXseed Ventures closes Fund II at Rs 243 cr

The final closure of StartupXseed Ventures' second fund, an early-stage B2B venture capital business, was marked at Rs 243 crore with a 20% oversubscription.

The fund included prominent family offices and corporations, as well as its Fund I participants.

With an initial cheque between Rs 5 and Rs 12 crore, the second fund would concentrate on making investments across enterprise SaaS (software-as-a-service) and deeptech industries.

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StartupXseed is a venture capital firm that makes investments between seed and pre-Series A rounds. It was founded in 2015 by BV Naidu, a former director of Software Technology Parks of India, Mohandas Pai, Ravi Thakur, and Ramakrishna V. It has so far made investments in 19 firms.

“Having expertise in the B2B segment, we have helped founders to gain commendable success and our average mark-up of past investments is more than 6x. Couple of Fund II LPs doubled their commitment at final close after witnessing similar growth indicators on Fund II portfolio,” BV Naidu said.

StartupXseed Ventures is a sector agnostic fund with investments from SaaS to Space (Tech), including the areas of Cyber Security, Semicon, AI/ML, Drones and New Frontier Startups in India with a Global Focus.

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“On the Investments, we primarily look at solutions where the convergence of new business models and technologies is imperative. This way, we are helping ourselves in working on next big verticals ahead of the curve. We are also spending time helping founders double to triple their Topline year on year,” Ravi Thakur said.

About StartupXseed Ventures

StartupXseed focuses on startups in deep technology domains such as Cyber Security, Semicon, Embedded Devices, Internet of Things (IOT), Machine Learning and AI Product & Services with emphasis on Innovation, IP creation and disruptive technologies, with ticket sizes ranging from $ 500K - $ 1.5 Mn.