BENGALURU: Infosys co-founders Kris Gopalakrishnan and SD Shibulal-backed Axilor Ventures will raise a Rs 770 crore ($100 million) fund, which will be four times the size of its first fund. Axilor Technology Fund - II will look at emerging opportunities in enterprise SaaS, B2B commerce, agritech, fintech and health tech. The early-stage venture capital firm launched its first fund in 2018, and it has invested in 54 start-ups.
Its portfolio of companies includes Detect, Enkash, Loco, Urban Piper and Vyapar, among others. The new fund is said to have a longer tenure allowing it to stay longer in companies and has a higher follow-on reserve. It will also set aside 30% of the new corpus for investing in 10-12 winners from its first fund.
Ganapathy Venugopal, Co-founder and CEO, Axilor Ventures, said there is no better time to invest in innovation coming out of India. “With our first fund, we have demonstrated our deep engagement model and a programmatic approach that predictably delivers better outcomes for start-ups,” he said. Google’s new initiative Meanwhile, Google has announced Startup School India to enable 10,000 start-ups in tier-2 and 3 cities.