Fund II launched by Kettleborough VC with Rs 80 Cr target, closes Rs 35 Cr in first tranche
Established by early-stage investor Nisarg Shah, Kettleborough VC has announced a first close of Rs 35 crore for its second fund, which has a target corpus of Rs 80 crore. A combination of US and Indian family offices and entrepreneurs support the fund.
In the early stages, Fund II will continue to invest in highly experienced founders, usually those with more than ten years of domain expertise and a strong execution focus, according to Kettleborough.
With substantial follow-on reserves for high-performing wagers, the company will write initial checks for roughly ten startups totaling $300,000 to $500,000.
Kettleborough VC was established in 2021 and has established a reputation as a construct-specific, conviction-led fund. Twelve startups, including Zippmat, InPrime, Finhaat, and Elivaas, were supported by its Fund I; Kettleborough provided the first institutional check to nine of these companies. Omnivore, Lightspeed, 3one4, and Bessemer are among the investors who have since raised follow-on rounds for these portfolio companies.
“We only back founders for whom the startup is a natural outcome of a decade-long journey in their domain. Fund I has validated this thesis with strong portfolio traction and early PMF. Fund II doubles down on this conviction,” said Shah.
“Dhandha-first” companies are its primary focus, Kettleborough continued, with a particular interest in vertical SaaS/AI platforms, financial services, and commerce infrastructure.
With 80 follow-on rounds and 10 exits, Shah has personally backed more than 30 startups, including successful ventures like Foxtale, Onebanc, and Homeville.
