Tech industry veteran and startupXseed Ventures founder and managing partner BV Naidu said the pandemic and technology acceleration made fundraising easier and faster for the venture.
Commenting on the changes that have taken place in the funding industry in the last 18 months, he said that till a few years back, putting together a venture fund was a difficult task, but after the pandemic it became much easier and faster.
“People and institutions (potential investors) are available and ready to talk,” said Mr. Naidu.
“All are confident about the story of technology acceleration that is happening all around and how it is affecting the bottom lines of large enterprises and small start-ups. No physical travel required. The fund closure cycle has become much shorter.
“Thanks to all these, the first or at least the second meeting itself is closing,” said Mr. Naidu. Hindu.
Venture capital firm, StartupXseed Ventures, has set up a ₹200 crore fund to invest in the deep-tech domain across industry verticals.
“The success of our first fund gave us the confidence to launch our second fund, which will focus on sector agnostic deep tech sectors. Individual ticket size will be in the range of $1 to $2 million,” said Mr. Naidu.
According to him, HNIs and family houses in India and the US and corporates from US, India and Japan have participated in the fund pool.
StartupXSeed Ventures was also looking at a mega fund of Rs 500 crore, which is expected to be ready for disbursement in 2022.
“Existing contributors and new others will be part of this larger fund, which is expected to be ready next year. The ticket size of the fund will also be bigger,” said Mr. Naidu.
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