Rahul Chandra, MD of venture capital firm Helion Ventures, has launched a $100-million early stage fund.

The new fund, Unitary Helion,will invest $2-5 million in 18-20 start-ups over the next two years. It is now evaluating about 30 start-ups in sectors such as fintech, agri-finance and logistics.

Talking to BusinessLine , Chandra said the fund has strategic investors from the US, Hong Kong and Singapore, and is looking to close the first tranche of $40 million in October this year and the second tranche by April next year.

While Unitary Helion will receive operational, infrastructure and advisory support from Helion Advisors, there is no economic relation between the two entities, he added.

Sanjeev Aggarwal and Ashish Gupta, Senior Managing Directors at Helion, will come on board of Unitary Helion as advisors. Unitary Helion will also help the start-ups connect with investment bankers and large investors for further funding rounds.