Bangalore-based Stellaris Venture Partners, an early stage technology focussed venture fund, has completed the first close of its $100 Mn maiden fund, reported TOI.
Commenting on Fund I, Ritesh Banglani, Partner at Stellaris said, “We have assembled a strong syndicate of Limited Partners for our first fund. Indian tech companies are set to create $500 Bn of value over the next decade, and our fund gives its investors the opportunity to participate in this value creation.”
Started in 2016 by Ritesh Banglani, Alok Goyal and Rahul Chowdhri, Stellaris Venture Partners is an early-stage venture fund with investment focus in global SaaS, applications for Indian small and mid-sized business and consumers in large verticals such as healthcare, education, financial services, and retail.
Fund I has secured capital commitments from financial institutions, corporates, entrepreneurs and family offices in the United States, Europe and Asia. As for the Series A fund, it will be focussed on areas including local language online services, technology-led financial inclusion, supply chain networks, vertical machine-learning applications and global SaaS businesses.
As of now, Stellaris has created a network of over 50 successful entrepreneurs and business professionals in India and abroad, who work closely with the partnership to help identify promising investments, advise the portfolio and selectively co-invest with the fund.
Other members of the network include Taxiforsure cofounder Aprameya R, Indify founder Alok Mittal, Capillary Technologies founder Aneesh Reddy; as well as investors and business leaders like Kanwaljit Singh, founder of Helion and Fireside Ventures, and Neeraj Agarwal, India Head of the Boston Consulting Group.
Stellaris partners Banglani, Alok Goyal and Rahul Chowdhri have collectively spent over 20 years in the Indian venture capital business and have invested in several market leaders including BigBasket, TaxiForSure, Simplilearn, LifeCell and Axtria.
The firm has already made two Series A investments so far including Wydr, an online wholesale shopping for wholesale buying and selling.