Early-stage venture capital company, Stellaris Venture Partners, has reportedly announced the closure of its second fund at USD 225 million. Along with strong backing from current Limited Partners, the fund witnessed participation from multiple new global institutions. Over 80 percent of the second fund’s capital base is formed by global institutional capital.
The fund did its first close in April and within 45 days, it was fully subscribed. Owing to this fund, Stellaris now has over USD 300 million in assets.
Stellaris Venture Partners invested in nineteen startups after raising its first fund in 2017, of which many have emerged as leaders in their categories. Online personal care consumer brand Mamaearth recently declared its Series C fundraise valued at over USD 700 million.
Whatfix, a worldwide leader in SaaS, is currently valued at more than USD 500 million. Other remarkable companies under the portfolio of Stellaris include Slintel, Signzy, Loadshare, mFine, and Propelld.
Using the new fund, Stellaris predicts is aiming for over 25-30 new investments in Series A and Seed rounds of tech companies.
Partner at Stellaris Venture Partners, Rahul Chowdhri, supposedly stated that over the past four years, the company has developed a depth-oriented, specialist investment model that enables it to take early risks in new sectors. Whether it is D2C brands with Mamaearth or healthcare AI with mFine, Stellaris has built strong conviction and has been able to support market leaders in developing categories.
He added that the venture ecosystem of India has evolved over the last few years with a massive rise in volume and the quality of new startups, as well as large exits. The second fund supports the company’s efforts to explore the surging opportunity, with the capability of supporting entrepreneurs with more capital funds and long-time support.
Chowdhri also said that the company maintains a large reserve for the best-performing companies under its portfolio and supports them through 3-4 rounds of funding.