Bengaluru-based Stellaris Venture Partners has unveiled its largest fund of $300 million to invest in early-stage tech startups, primarily at seed and Series A stages. The firm aims to back 25-30 companies over the next three years, highlighting a strategic focus on innovation in India’s burgeoning startup ecosystem. The fund will elevate Stellaris’s assets under management to over $600 million, attracting commitments from both existing and new global investors.
Stellaris Venture Partners has launched its largest fund to date, totaling $300 million, aimed at enhancing its support for early-stage tech startups. The firm plans to invest in 25 to 30 startups over the next three years, primarily focusing on seed and Series A funding rounds, where it typically acts as the lead investor to facilitate subsequent financing events.
Rahul Chowdhri, a partner at Stellaris, expressed enthusiasm for backing innovative founders by stating, “With this new fund, we’re excited to back founders using technology to solve deep problems in large markets.” This new initiative will elevate the firm’s assets under management to over $600 million, with commitments coming from both existing limited partners and prestigious global investors, including university endowments and pension funds.
Alok Goyal, another partner at Stellaris, noted that while the fund was oversubscribed, the firm opted to maintain a cap between $250 million and $300 million. This measure aims to optimally deploy the funds over the next four years, reflecting the burgeoning potential in India’s early-stage ecosystem. The firm intends to invest between $0.5 and $3 million for seed stage and between $3.5 and $10 million for Series A deals, across various sectors including B2B commerce and fintech.
Ritesh Banglani, also a partner at Stellaris, highlighted India’s unique market advantages, stating, “With its $4 trillion GDP growing at 6-8% per annum, India is one of the few markets in the world offering both scale and growth to deliver venture returns.” Established in 2017, Stellaris has supported 44 tech startups, with a significant 60% being inception-stage companies. Some of its recent investments include Turno, Kiwi, and AI-focused firms like Orbitshift.
The launch of Stellaris Venture Partners’ $300 million fund marks a significant milestone in venture capital investments in India, particularly aimed at early-stage technology startups. The fund’s mission reflects the firm’s commitment to bolster innovative solutions in sizable markets. With a rich track record and growing assets under management, Stellaris is well-positioned to leverage India’s dynamic startup ecosystem.
In conclusion, Stellaris Venture Partners’ introduction of its largest-ever $300 million fund demonstrates its confidence in the Indian startup landscape. With a focus on early-stage investments and a strategic approach to capital deployment, the firm aims to support founders driving technological solutions in vast markets. The firm’s successful oversubscription underscores the growing interest in the Indian tech ecosystem from global institutional investors.
Original Source: www.livemint.com
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