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Golden Sparrow Ventures announces first close of $20 Mn Fund II

EntrackrEntrackr · 10h ago
Golden Sparrow Ventures announces first close of $20 Mn Fund II
Medial

Golden Sparrow Ventures, a venture capital fund investing in Indian-origin deep-tech and enterprise AI founders, has announced the first close of its $20 million Fund II. Over half of the fund has been committed, with more than 60% of Fund I’s limited partners re-investing. The fund will target 22 companies at the pre-seed and seed stages, with an average cheque size of $650,000. The portfolio allocation will be roughly split, with 50% focused on deep tech and 50% on enterprise AI. About 12% of the capital is reserved for follow-on investments in breakout companies. The fund is targeting 5x gross returns over a 10-year period. Golden Sparrow said it has already made its inaugural Fund II investment, backing a repeat founder building an enterprise data platform that cleans and structures legacy data for large organizations. The investment was made at the earliest institutional stage in the cross-border corridor. The VC firm added that its inaugural $8 million fund was fully deployed across 18 companies between 2023 and 2025 and has delivered top-decile performance. Portfolio companies include space-tech startup EtherealX, semiconductor startup Morphing Machines, MyoLab, Theranautilus, and GPU virtualization company Hosted AI. Founded in 2023 by Rishaad Currimjee, Golden Sparrow Ventures is a venture capital firm based in India. The firm prefers to invest in companies operating in AI and ML, deep tech and hard science, and SaaS and DevOps, among other sectors.

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