With a corpus of $129 million, venture capital firm Iron Pillar, which has invested in businesses like FreshToHome, Uniphore, Servify, and CureFoods, has announced the closing of its Global Cloud Fund II. The Iron Pillar Fund II series of funds includes this fund.
The fund also saw participation from new investors, including Endowments and Foundations, in addition to Iron Pillar’s current institutional investors from the US, Europe, and the Middle East.
CoreStack, Ushur, Jiffy, Sibros, and Pando are just a few of the international cloud software companies that Iron Pillar has actively invested in.
As its name implies, the cloud fund will invest in Series B and C rounds of cloud software companies or software-as-a-service (SaaS) companies from India that market their services internationally. Prasanna and Mohanjit Jolly are in charge of using the fund.
The company has a distinctive investment strategy in which it leads Series B and C rounds in the businesses in its portfolio before increasing its stake in the businesses that succeed by 5 to 10 times. Currently, it is managing assets worth close to $500 million, including several special purpose vehicles, a global cloud fund, and Fund I series investments totaling $300 million.
