After raising Rs 146.5 crore, VentureSoul Partners announced the first close of its Rs 600 crore maiden fund.
A corpus of up to Rs 300 crore is the goal of the SEBI-registered Category II AIF, which is also targeting an extra Rs 300 crore in greenshoe options.
The Mumbai-based debt firm states that its goal is to invest in twenty to twenty-five startups, with an average ticket size of Rs 25 to 30 crore. There will be a cap of Rs 60 crore on the total. The fund aims to support fintech, B2C, B2B, and SaaS startups that are in Series A or later stages and have proven business and revenue models.
According to VentureSoul, a wide range of investors have contributed, including professionals, family offices, corporations, and high-net-worth individuals. For clients in the new age economy, the fund will offer unique debt product propositions.
Anurag Tripathi, Ashish Gala, and Kunal Wadhwa co-founded VentureSoul, a sector-neutral fund that provides customized financing options to meet the specific funding requirements and business development strategies of each company. As part of its business plan, it will offer differentiated lending via a new economy credit fund that combines traditional credit evaluation with technology-driven risk assessment.
VentureSoul invests in technology-enabled businesses, whether they are domestically based or the Indian branch of a foreign corporation, and helps them increase their recurring revenue and unit economics.
