Stellaris announces first close of $ 100 million venture capital fund

India Infoline News Service | Mumbai | February 06, 2017 10:22 IST

The Series A oriented fund will invest in technology businesses solving India-specific problems, as well as global software products from India.

Stellaris Venture Partners, an early stage technology focussed venture fund, announced today that it has completed the first close of its $ 100 million maiden fund. Fund I has secured capital commitments from financial institutions, corporates, entrepreneurs and family offices in the United States, Europe and Asia.

The Series A oriented fund will invest in technology businesses solving India-specific problems, as well as global software products from India. Their key investment areas include local language online services, technology-led financial inclusion, supply chain networks, vertical machine-learning applications and global SaaS businesses.

Commenting on Fund I, Ritesh Banglani, Partner at Stellaris said, “We have assembled a strong syndicate of Limited Partners for our first fund. Indian tech companies are set to create $500B of value over the next decade, and our fund gives its investors the opportunity to participate in this value creation.”

Stellaris has created a network of more than 50 successful entrepreneurs and business professionals in India and abroad, who work closely with the partnership to help identify promising investments, advise the portfolio and selectively co-invest with the fund.

Commenting on the Stellaris Founder Network, Raghunandan G., founder of Taxiforsure said, “I have worked with the Stellaris team while we were building TFS, and am excited to be part of their Founder Network. This unique platform brings together experienced founders to help portfolio entrepreneurs with strategy, team building and growth. I look forward to working with Stellaris partners to help identify potential investment areas and connect with innovative entrepreneurs.”

Other members of the network include Taxiforsure cofounder Aprameya R, Indify founder Alok Mittal, Capillary Technologies founder Aneesh Reddy; as well as investors and business leaders like Kanwaljit Singh, founder of Helion and Fireside Ventures, and Neeraj Agarwal, India Head of the Boston Consulting Group.

Stellaris partners Banglani, Alok Goyal and Rahul Chowdhri have collectively spent over 20 years in the Indian venture capital business and have invested in several market leaders including BigBasket, TaxiForSure, Simplilearn, LifeCell and Axtria.

The firm has made two Series A investments so far, and is on track for a final close in 2017.
 

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