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Stellaris Venture Partners, an early-stage venture capital firm, has closed its second fund at $225 million. Global institutional capital forms more than 80 per cent of the company’s capital base for the second fund. With this fund, Stellaris Venture Partners now has more than $300 million in assets under management.
Stellaris has started investing capital from the second fund with commitments to four startups so far. The firm invested in D2C lifestyle brand Zouk. Stellaris expects to make 25-30 new investments in Seed and Series A rounds of technology companies from this fund. The venture capital company has invested in 19 startups after raising its maiden fund in 2017. Some of its portfolio companies include Mamaearth, Whatfix, mFine, Slintel, Loadshare, Signzy and Propelld.
Rahul Chowdhri, Partner at Stellaris Venture Partners said, “India’s venture ecosystem has come of age over the last few years with large exits and a massive increase in the volume and quality of new startups. The larger second fund gives us dry powder to tap into this growing opportunity with an ability to back entrepreneurs with more capital and support them for longer. We keep a large reserve for our best-performing portfolio companies and back them through 3-4 funding rounds.”
In Fund 2, the firm has expanded the Stellaris Founder Network, the group of India’s top technology entrepreneurs that it leverages for deal sourcing, diligence and portfolio support.
Roughly 20 per cent of the capital of Fund 2 is contributed by members of this network. Chowdhri said, “Indian startups have a thriving “pay it forward” culture, with successful entrepreneurs helping new founders with their time, network, expertise and capital. We offer all this to our portfolio entrepreneurs in a structured form through the Stellaris Founder Network. Some of our most successful portfolio companies like Mamaearth, mFine, and Slintel were introduced to us by members of this network, and we look forward to strengthening our engagement with this group in Fund 2.”
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