India-based venture capital firm, Axilor Ventures, has launched its Fund II at $100 million to support early-stage impact-making tech startups in India.
- Fund II will be largely invested in B2B software-providing startups focusing on India and the global markets, with other investments targeted at tech startups working on SaaS, supply chain tech, fintech, agritech, and healthtech.
- The firm aims to invest the second fund in 100-125 startups, with $750,000 to $1 million in seed backing and $2 to $3 million in follow-on cheques.
- The funding which is awaiting the approval of the Securities and Exchange Board of India (Sebi) will be deployed over 12 years.
- Fund I backed 54 companies, including UrbanPiper, a management platform, PocketAces, an entertainment startup, Enkash, a fintech startup, and Niramai, providing cancer screening solutions.