The investment strategy and portfolio construct continue to remain the same across funds, and a larger corpus allows for more follow-on allocation to the portfolio.
Speciale Invest, a seed-stage VC investing in deep technologies announced today the first closing of its second fund. The 2nd fund exceeded its target and was oversubscribed with the backing of an experienced group of domestic investors. The fund expects to invest in about 18-20 start-ups building enterprise software products including SAAS, developers’ tools, and frontier technologies including Space Tech, Robotics, Photonics, Alternative Energy to name a few.
Speciale had raised its first fund in 2018 and invested in 14 cutting-edge startups so far, with an average deal size of sub-US$ 0.5 million. The investment strategy and portfolio construct continue to remain the same across funds, and a larger corpus allows for more follow-on allocation to the portfolio.
Speaking on the new development, Vishesh Rajaram, Managing Partner at Speciale Invest said, “Weare excited to announce the launch of our second fund to support and boost the deep-tech startup ecosystem in India amid the ongoing pandemic. The oversubscribed round of funding and interest in our subsequent round demonstrates the support of our investors in our team in creating a long-standing venture institution. It also reaffirms our commitment towards looking out for entrepreneurs who have unconventional ideas in building futuristic companies that will challenge the status quo and revolutionize the world.”
Portfolio companies of Speciale Invest include enterprise software companies Wingman, True Lark, TotalCloud, Scapic, iAuro, Pocket52 and; and hardware startups The ePlane Company, Agnikul, Astrogate Labs, CynLr, and Kawa Space.
Source: Business World