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Rockstud Capital achieves the first close of second WIFE after raising Rs 68 crore

IndianStartupNews

IndianStartupNews · 1y ago

Rockstud Capital achieves the first close of second WIFE after raising Rs 68 crore

Mumbai-based venture capital firm Rockstud Capital has raised $8.2 million for its second alternative investment fund, focused on supporting pre-Series A and Series A-stage startups. The fund aims to invest in sectors critical for India's growth, such as digitalization, sustainability, financial inclusion, health & safety, and consumption. Rockstud Capital has transitioned to a focused investment strategy with this fund, operating more like an angel network to facilitate bridge rounds for companies. Despite fundraising challenges during the COVID-19 pandemic, Rockstud Capital remains dedicated to investing in early-stage startups and fostering scalable businesses.

Related News

Micro VC player Rockstud marks first close of second vehicle

VCCircle

VCCircle · 1y ago

Micro VC player Rockstud marks first close of second vehicle

Micro venture capital firm Rockstud Capital has announced the first close of its second fund at INR 68 crore ($8.2 million). The Mumbai-based firm is targeting to raise INR 300 crore ($36 million) for the 'Rockstud Capital Investment Fund - II'. The fund aims to operate like an angel network, focusing on bridge funding for startups. Rockstud Capital will evaluate startups and offer its limited partners (LPs) the option to invest on a deal-by-deal basis.

Rockstud Capital Marks First Close Of Second AIF At INR 68 Cr

Inc42 · 1y ago

Rockstud Capital Marks First Close Of Second AIF At INR 68 Cr

Rockstud Capital has announced the first close of its second alternative investment fund (AIF) at INR 68 Cr ($8.2 Mn). The fund, with a target corpus of INR 300 Cr ($36 Mn), aims to support pre-Series A and Series A-stage startups in sectors such as digitalization, sustainability, financial inclusion, health & safety, and consumption. Rockstud Capital's investment strategy involves investing between $0.5M and $1M in startups at the Pre-Series A stage. The firm previously launched its second fund in March 2023, and its portfolio includes companies like Everest Fleet, BigHaat, Instoried, Smartvizx, Fabheads, and NOTO.

Triton rolls out second VC fund, hits halfway mark at first close

VCCircle

VCCircle · 5m ago

Triton rolls out second VC fund, hits halfway mark at first close

Triton Investment Advisors, an early-stage venture capital firm in Mumbai, announced the first close of its second fund, raising Rs 120 crore, half of its Rs 240 crore ($28 million) target. The new fund, 5.5 times larger than its first 2015 fund, will focus on B2B tech and tech-enabled services. Triton plans to invest in 10-15 companies with Rs 15 crore per investment, targeting pre-Series A and Series A rounds.

Venture firm Promaft Partners announces inaugural Rs 1,000 crore fund

Economic Times

Economic Times · 12m ago

Venture firm Promaft Partners announces inaugural Rs 1,000 crore fund

Promaft Partners, a venture capital firm led by Raghav Bahl, former head of investments at Alibaba Group, is raising its first fund worth Rs 1,000 crore with a greenshoe option of Rs 200 crore. The firm, which aims to identify startups with strong product-market fit (PMF), plans to invest in 10 to 12 firms after they have achieved PMF. The fund has attracted capital from Indian family offices and founders of prominent companies like Paytm, Zomato, and PharmEasy. The first close of the fund is expected later this year.

Early-stage venture fund pi Ventures announces final closure of its second fund at $85M

IndianStartupNews

IndianStartupNews · 1y ago

Early-stage venture fund pi Ventures announces final closure of its second fund at $85M

Early-stage venture fund pi Ventures has announced the final close of its second fund with a total commitment of Rs 702 crore (or $85 million), closing above its base target of Rs 565 crore (or $68 million). The fund specializes in investing in deep technology startups and has garnered capital commitments from various institutional investors. This achievement is set to amplify Pi Ventures' support for innovative startups in the deep tech domain, fostering growth and advancement in the startup ecosystem.

Rockstud Capital announces partial exit from Uber-backed Everest Fleet

Economic Times

Economic Times · 1y ago

Rockstud Capital announces partial exit from Uber-backed Everest Fleet

Rockstud Capital has sold half of its stake in Mumbai-based fleet operator Everest Fleet for around Rs 20 crore. This comes after another investor, Artha Venture Fund, announced a partial exit from the Uber-backed company for $2 million. Rockstud Capital will continue to hold a stake in Everest Fleet, believing that Uber's investment to expand into the electric vehicle (EV) space in India will benefit the company. Everest Fleet recently secured $20 million in funding, with Siddharth Ladsariya, the founder and CEO, being the biggest shareholder. Rockstud Capital is also in talks to exit another portfolio company by the end of the fiscal year.

Alkemi hits first close of second VC fund, taps another institutional LP

VCCircle

VCCircle · 10m ago

Alkemi hits first close of second VC fund, taps another institutional LP

Alkemi Growth Capital, a healthcare-focused venture capital fund, recently announced the first close of its second fund and secured a new institutional limited partner. The New Delhi-based firm specializes in investing in the healthcare sector and has a focus on diagnostics-focused healthtech startups like Redcliffe Lifetech. Alkemi is currently in the process of raising capital for its second fund.

AstroTalk backer Elev8 Venture Partners sets timeline for final close of maiden fund

VCCircle

VCCircle · 1y ago

AstroTalk backer Elev8 Venture Partners sets timeline for final close of maiden fund

Elev8 Venture Partners, the venture capital firm raising $200 million for its first fund, has announced a timeline for the final close of the fund. The firm, founded by a former Kae Capital partner, aims to raise Rs 834.4 crore for its maiden fund. Elev8 has South Korea's financial services firm Mirae Asset Global Investments as one of its backers.

CarDekho Group achieves 54% revenue growth in FY24

YourStory

YourStory · 7m ago

CarDekho Group achieves 54% revenue growth in FY24

CarDekho Group reported a net revenue of Rs 2,074 crore in FY24, a 54% increase from the previous year. This growth was driven by its insuretech arm, InsuranceDekho, and fintech platform, Rupyy. CarDekho also achieved standalone profitability for the first time, with a profit of Rs 37 crore. The Group secured $80 million in growth capital and maintained a strong balance sheet with Rs 1,600 crore in cash reserves. InsuranceDekho recorded Rs 33 billion in premium and Rupyy retained a 15% market share in used car financing. CarDekho aims to achieve carbon neutrality by 2050 and is supported by various investors.

Early-stage VC firm GrowthCap Ventures marks first close

VCCircle

VCCircle · 1y ago

Early-stage VC firm GrowthCap Ventures marks first close

Early-stage venture capital firm GrowthCap Ventures, founded by Pratekk Agarwaal, has announced the first close of its maiden fund, raising Rs 20 crore ($2.7 million). The fund, which aims to invest in startups across fintech, deeptech, and software-as-a-service (SaaS) sectors, has a target corpus of Rs 50 crore ($6 million). GrowthCap Ventures, with an average ticket size of Rs 2-6 crore, plans to invest in 10-12 startups in the next 20 months. The firm intends to launch a winners fund with an estimated corpus of Rs 250 crore ($34 million).

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