Axilor Ventures is set to launch its second fund Axilor Technology Fund - II. ATF-II will have a total corpus of $100 million. With the launch, Axilor Venture continues to strengthen its focus on early-stage seed investing.
The fund will continue to look at emerging opportunities in enterprise SaaS, B2B commerce, agritech, consumer tech, fintech, and health-tech. The new fund will have a longer tenure allowing it to stay longer in companies and has a higher follow-on reserve. The new fund will also set aside 30 per cent of the new corpus for investing in 10-12 winners from its first fund.
Ganapathy Venugopal, Co-founder and CEO OF ATF-II, said there is no better time to invest in innovation coming out of India. The fund has built a well-respected brand among founders and VCs. “With our first fund, we have demonstrated our deep engagement model and a programmatic approach that predictably delivers better outcomes for start-ups. We hope to extend the same commitment and disciplined approach into our next fund to help entrepreneurs build valuable companies,” he added.
Axilor Venture reinforces its position as one of India’s most active seed funds. Venture Intelligence’s Series A Landscape report ranked it the second most active seed fund for 2018-2021. It was among the top 10 contributors to the Series A pipeline during the same period.
Axilor Technology Fund-I has invested in 54 start-ups. ATF-1 has a follow-on rate of more than 75 per cent, with 21 start-ups having already crossed Series A and beyond, making it one of the largest portfolios of Series A+ companies for any first fund in India. Its portfolio of category-leading companies includes Detect, Enkash, Headfone, Locofast, Loco, Medfin, and many more.