Through the second round of funding, iSeed plans to invest in 50 start-ups, with ticket sizes ranging between $100,000-$250,000 during the seed stage.
Micro-VC fund iSeed has closed its second round of investing, as a part of its second fund, iSeed II, to ramp up its investments in the Indian start-up domain.
Close to 60 limited partners have invested in iSeed II, including Lachy Groom, a former executive of payments major Stripe; Prasanna Sankar, co-founder of Rippling, an employee management unicorn; Ankur Nagpal, founder CEO of EdTech start-up Teachable. Institutional investors, including FJ Labs, RTP Global, Hummingbird, Tribe Capital, and Kamco Jedi Fund have also participated in this round of fundraising. This includes existing investors as well, like AngelList founder Naval Ravikant, Wikihow founder and CEO, Jack Herrick, and Bryce Maddock, co-founder and CEO of TaskUs that is IPO-bound.
iSeed’s first fund was launched last May, with a $5 million investment. iSeed has invested in about 36 start-ups from its first fund so far including Velocity, Pepper Content, BimaPe, FloBiz, and PagarBook. The investment was done while co-investing with institutional investors like Lightspeed India Partners and Sequoia Capital India. Through the second round of funding, iSeed plans to invest in 50 start-ups, with ticket sizes ranging between $100,000-$250,000 during the seed stage. The firm may also look at follow-on investments in its existing portfolio of start-ups.
Source: Business World