Stellaris Venture Partners, an early stage technology focussed venture fund founded by former partners of Helion Ventures, has announced that it has completed the closure of its $100-million maiden fund. The Fund-1 has secured capital commitments from financial institutions, corporates, entrepreneurs and family offices in the United States, Europe and Asia, it said in a release.
The Series A oriented fund will invest in technology businesses solving India-specific problems, as well as global software products from India. Their key investment areas include local language online services, technology-led financial inclusion, supply chain networks, vertical machine-learning applications and global SaaS businesses.
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The firm has made two Series A investments so far, and is on track for a final close in 2017.
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 billion of value over the next decade, and our fund gives its investors the opportunity to participate in this value creation.”
Stellaris has created a network of more than 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.