Stellaris Marks Close Of Third India-Focused Fund At $300 Mn

Share via:


SUMMARY

The new fund will continue to lead seed and Series A funding investments across 25-30 startups over the next three years

The sector agnostic firm also announced key leadership changes, with Naman Lahoty, formerly a principal at the firm, promoted to partner

Founded by former Helion Ventures partners Ritesh Banglani, Alok Goyal and Chowdhri, Stellaris counts software giants Cisco and Infosys, along with the World Bank’s International Finance Corporation, among its LPs and backers

Venture capital firm Stellaris Venture Partners, which has backed companies, including Mamaearth, Whatfix, Propelld, Turno, Dashtoon and Kiwi among others, has marked the final close of its third India-focused fund at $300 Mn (around INR 2,534 Cr).

The new fund will continue to lead seed and Series A funding investments across 25-30 startups over the next three years, the VC firm said in a statement.

Stellaris plans to use the fresh capital to back these startups across sectors, including artificial intelligence, enterprise software, consumer technology and financial services among others.

The sector agnostic firm also announced key leadership changes, with Naman Lahoty, formerly a principal at the firm, promoted to partner. Besides, Vardhan Dharnidharka, an AI/ML engineering leader, has joined as an investment principal and relocated to Bengaluru.

The new fund brings the VC firm’s total assets under management (AUM) to more than $600 Mn. 

The third fund saw participation from existing Limited Partners (LPs) as well as new commitments from global investors, including university endowments, foundations, pension funds and reputed fund of funds, the statement added.

“India’s startup ecosystem has transformed since we started our fund, with a 4X growth in the deal flow and a rise in repeat entrepreneurs and founders from successful startups. With this new fund, we are excited to back founders using technology to solve deep problems in large markets,” said Rahul Chowdhri, partner at Stellaris Venture Partners.

Founded by former Helion Ventures partners Ritesh Banglani, Alok Goyal and Chowdhri, Stellaris counts software giants Cisco and Infosys, along with the World Bank’s International Finance Corporation, among its LPs and backers.

Since its launch in 2017, the VC firm has built a portfolio of over 40 companies across sectors such as SaaS, consumer, financial services, B2B commerce, education, mobility and healthcare.

Stellaris claims to have invested in 44 tech startups across two funds, with 60% being inception-stage businesses. 

Earlier this year, the VC firm offloaded a 1% stake in Mamaearth’s parent entity, Honasa Consumer Limited, via an open market transaction, valuing the total deal at INR 140.61 Cr.

In August 2021, Stellaris Venture Partners announced the closing of its second fund at $225 Mn.

According to data from the National Stock Exchange (NSE), the VC firm, through its affiliate Stellaris Venture Partners India I, sold 32,17,468 shares of Honasa Consumer Limited. 

The deal took place at an average price of INR 437.04 per share, resulting in a transaction value of INR 140.61 Cr. 

Following the transaction, Stellaris Venture Partners’ shareholding in Honasa Consumer was reduced to 4.78%, down from its previous 5.78% stake.





Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Stellaris Marks Close Of Third India-Focused Fund At $300 Mn


SUMMARY

The new fund will continue to lead seed and Series A funding investments across 25-30 startups over the next three years

The sector agnostic firm also announced key leadership changes, with Naman Lahoty, formerly a principal at the firm, promoted to partner

Founded by former Helion Ventures partners Ritesh Banglani, Alok Goyal and Chowdhri, Stellaris counts software giants Cisco and Infosys, along with the World Bank’s International Finance Corporation, among its LPs and backers

Venture capital firm Stellaris Venture Partners, which has backed companies, including Mamaearth, Whatfix, Propelld, Turno, Dashtoon and Kiwi among others, has marked the final close of its third India-focused fund at $300 Mn (around INR 2,534 Cr).

The new fund will continue to lead seed and Series A funding investments across 25-30 startups over the next three years, the VC firm said in a statement.

Stellaris plans to use the fresh capital to back these startups across sectors, including artificial intelligence, enterprise software, consumer technology and financial services among others.

The sector agnostic firm also announced key leadership changes, with Naman Lahoty, formerly a principal at the firm, promoted to partner. Besides, Vardhan Dharnidharka, an AI/ML engineering leader, has joined as an investment principal and relocated to Bengaluru.

The new fund brings the VC firm’s total assets under management (AUM) to more than $600 Mn. 

The third fund saw participation from existing Limited Partners (LPs) as well as new commitments from global investors, including university endowments, foundations, pension funds and reputed fund of funds, the statement added.

“India’s startup ecosystem has transformed since we started our fund, with a 4X growth in the deal flow and a rise in repeat entrepreneurs and founders from successful startups. With this new fund, we are excited to back founders using technology to solve deep problems in large markets,” said Rahul Chowdhri, partner at Stellaris Venture Partners.

Founded by former Helion Ventures partners Ritesh Banglani, Alok Goyal and Chowdhri, Stellaris counts software giants Cisco and Infosys, along with the World Bank’s International Finance Corporation, among its LPs and backers.

Since its launch in 2017, the VC firm has built a portfolio of over 40 companies across sectors such as SaaS, consumer, financial services, B2B commerce, education, mobility and healthcare.

Stellaris claims to have invested in 44 tech startups across two funds, with 60% being inception-stage businesses. 

Earlier this year, the VC firm offloaded a 1% stake in Mamaearth’s parent entity, Honasa Consumer Limited, via an open market transaction, valuing the total deal at INR 140.61 Cr.

In August 2021, Stellaris Venture Partners announced the closing of its second fund at $225 Mn.

According to data from the National Stock Exchange (NSE), the VC firm, through its affiliate Stellaris Venture Partners India I, sold 32,17,468 shares of Honasa Consumer Limited. 

The deal took place at an average price of INR 437.04 per share, resulting in a transaction value of INR 140.61 Cr. 

Following the transaction, Stellaris Venture Partners’ shareholding in Honasa Consumer was reduced to 4.78%, down from its previous 5.78% stake.





Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Amazon allegedly violates labor law at its Indian warehouse

The investigation began after reports of unsafe work...

Why Are Investors Betting on AI Skyscrapers, Not Foundational...

SUMMARY 91% of the money invested in Indian native...

Pump.fun weekly revenue drops 66% after livestream controversy

Pump.fun’s weekly revenue peaked at $33 million in...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!