Venture capital firm StartupXseed Ventures has raised Rs 243 crore ($30.4 million) in its second fund. Fund II has been oversubscribed by 20 per cent as compared to its initial target.
The fund has been backed by ultra-high-net-worth individuals (UHNIs), family offices, entrepreneurs, and corporates across India, Singapore, Oman, Japan, the US, and others.
According to StartupXseed, fund two will focus on enterprise SaaS and deep tech verticals. It will invest between Rs 5 crore and Rs 12 crore in the first phase and fund II eyes to add 8 to 10 more disruptive startups in the next 12 months.
StartupXseed has invested in companies such as DarwinBox, CloudSEK, Bellatrix and AUS (Aarav Unmanned Systems), among others.
StartupXseed primarily invests in seed to pre-Series A startups and also helps them in product development, strategies, expansion, hiring et al.
StartupXseed’s flagship bet DarwinBox (from fund I), which became a unicorn early this year, has grown 100 times since its investment.
