Axilor Ventures has recently launched its second fund that was amounting to $100 million which stands for Rs 770 crores. The Category-I Axilor Technology Fund II (ATF-II) is planning to continue with its early-stage startups to support the companies including SaaS (Software-as-a-Service), Business-to-Business (B2B) commerce, agritech, consumer tech, fintech, and healthtech.
The registration was done by SEBI, which will continue to be supported by its founders Kris Gopalakrishnan, SD Shibulal, Professor Tarun Khanna, Srinath Batni, and Ganapathy Venugopal.
The amount on the cheque is averaging to $500,000 to $750,000. ATF-II has also set aside 30 % of its corpus to back 10-12 winners from its first fund, mentioned Ganapathy Venugopal.
The co-founder of the company, Ganapathy Venugopal stated that ATF-II has been set up as a 15-year fund to ensure a higher follow-on ratio along with the flexibility to recycle capital. The raised fundings are ready to continue to lead or co-lead investments rather than being passive investors.
“We have been deliberate in setting aside a separate corpus for being able to do bridge rounds because early-stage funding is highly uncertain. Sometimes, companies are unable to raise funding due to the timing and the market sentiment. The median first cheque is likely to be in the $500,000-750,000 range, but we are setting aside a separate corpus when the company is doing well and fundraising is getting delayed,” said Ganapathy Venugopal, Co-founder, and CEO of Axilor Ventures.
“Our exit horizon will be between eight to ten years so that it does not put pressure on the founders. We are looking at a three-year deployment cycle with 30 companies in each cycle,” he said.