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Titan Capital Winners Fund raises target corpus of Rs 200 Cr

EntrackrEntrackr · 11m ago
Titan Capital Winners Fund raises target corpus of Rs 200 Cr
Medial

Titan Capital Winners Fund, which is backed by Snapdeal co-founders Kunal Bahl and Rohit Bansal, has raised its target corpus of Rs 200 crore as the duo will anchor this fund as its largest investors. The fund will invest exclusively in follow-on rounds of breakout companies from its seed portfolio. “With the Titan Capital Winners Fund, we can more significantly support the founders of our portfolio companies in subsequent rounds of capital raises, further strengthening Titan Capital’s partnership with them,” Bahl and Bansal said in a joint press release. The Titan Capital Winners Fund focuses on tech-enabled businesses led by founders and management teams building category creators. The fundraise was completed in less than six months and the fund’s LPs include prominent family offices, CEOs and founders of leading companies, and key figures from the VC landscape. Titan Capital said that a select number of LPs are expected to be added via the optional greenshoe. In addition to Bahl and Bansal, the Winners Fund is managed by a team including Chetan Rana, who is serving as the chief financial officer (CFO). Titan Capital has backed more than 250 companies since 2011. Some of its seed investment portfolio includes Urban Company, MamaEarth, OfBusiness, Razorpay, Unicommerce, and Ola Cabs. Through the fund, Bahl and Bansal also made hefty exits from Urban Company, MamaEarth, Ola and Credgenics. For context, they had invested Rs 57 lakh total in Urban Company’s early funding rounds and recently took complete exit with Rs 111 crore. In Ola, their original investment was to the tune of $60,000 while the SoftBank-backed company reached its peak valuation of $7.3 billion in 2021 when they exited fully. E-commerce SaaS platform Unicommerce, which also comes under the umbrella of Snapdeal owner AceVector, went public. It was one of the profitable startups to get listed on the stock exchange.

GreenFortune secures $4.5 Mn in pre Series A round

EntrackrEntrackr · 3m ago
GreenFortune secures $4.5 Mn in pre Series A round
Medial

GreenFortune, a windows and doors brand, has raised $4.5 million in a pre-Series A round led by Foundamental. Titan Capital Winners Fund and existing investors Incubate Fund Asia & others participated. The proceeds will be used for national expansion, growing volumes, and building PartnerGate, its tech platform. GreenFortune aims to enhance its R&D and technical services for new products and become a complete solution provider for fenestration products. Founded in May 2022 by Dilip Kumar and Pratyusha Kosaraju, the brand offers affordable uPVC products across 100 locations in India. Products are manufactured in India, Germany, and Japan. In July 2023, GreenFortune raised $1 million led by Incubate Fund Asia.

BAT VC announces $100 Mn fund to back Indo-US startups

EntrackrEntrackr · 2m ago
BAT VC announces $100 Mn fund to back Indo-US startups
Medial

Former X India head Manish Maheshwari’s venture capital (VC) firm, BAT VC, has made a foray into India with the announcement of a $100 Mn fund to back early-stage ventures in the country. According to BAT VC, its Fund II will focus on startups operating in both India and the US across sectors such as AI, fintech, and SaaS. The fund is co-founded by Manish Maheshwari, Aditya Mishra, and Ravi Metta, with Maheshwari leading the VC firm’s regional expansion in the country. The VC firm says that Fund II has already attracted interest from “top-tier” institutional limited partners (LPs), strategic investors, and family offices in both India and the US. BAT VC plans to invest in startups before product-market fit (PMF), de-risking the execution with active support and internal frameworks. It will help founders access customers, capital, and talent in both India and the US. The VC firm prioritizes startups that place AI at the center of their product and business model. BAT VC also eyes Indo-US dual-market startups, which raise more capital on average than single-geography peers, adding that SaaS companies with operations in both nations demonstrate 1.8X higher median revenue growth. Established in 2021, BAT VC is a cross-border VC firm that backs AI-first early-stage startups in sectors such as fintech and SaaS. The VC firm claims to help founders achieve PMF and scale globally. It has backed notable companies including StockGro, Uptiq AI, Nickelytics, Accern, and others. The New York-based VC firm launched its maiden fund in 2022, which claims to have clocked an internal rate of return (IRR) of 30% and a multiple on invested capital (MOIC) of 1.61X. It also claims that the portfolio startups in its inaugural fund have achieved an average revenue growth of 210% within 18 months.

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