Singularity Growth Opportunities Fund II, the second fund from asset management company Singularity Ventures AMC, has announced a Rs 500 crore first close. The corpus of the second fund totals Rs. 1,500 crores.
Up to 20% of the corpus is invested in growth-stage startups, 20% goes into pre-IPO businesses, and about 40% goes into growth equity for businesses in which it has held stakes for at least four years.
Similarly, the corpus will be used by Singularity Growth Opportunities Fund II. The company plans to invest between Rs 75 crore and Rs 175 crore in 14–16 startups.
Singularity, led by Madhusudan Kela, focuses on financial services, manufacturing, enterprise software, and consumer products. Startups like mCaffeine, Exotel, WebEngage, XYXX, and Lohum Cleantech have benefited from its investments thus far.
Its initial round of funding, worth Rs 560 crore, began in 2021 and reached its final close in March of this year. The fund made investments in 17 businesses, including All-Cargo Logistics and Jana SFB, among others.
