Early-stage venture capital firm Triton on Monday said it has reached the first close amounting to Rs 120 crore of its second fund, targeting a total corpus of Rs 240 crores, over 5x bigger than its first fund. The new fund will remain focused on B2B tech and tech-enabled services after first fund which invested in startups across enterprise SaaS, AI, B2B marketplaces, and marketing services segments
Fund I is nearing completion with strong returns and high investor confidence, Triton said in a statement.
Speaking on the development, Pradyumna Dalmia, Managing Partner at Triton, said with the strong performance of Fund I, “we are well-positioned to build on our success and create significant value for both our investors and portfolio companies.”
Triton Fund II will back startups in pre-Series A and Series A rounds, with initial funding ranging from Rs 8–16 crores per company. The fund, said Triton, will maintain its core focus on B2B Tech and tech-enabled services, prioritizing sectors such as enterprise SaaS, SMB tech, agentic AI, deeptech, and tech-enabled services.
“With the funding euphoria behind us, we are now seeing high-quality founders adopting a more prudent approach to capital. We believe this will lead to a new wave of companies with strong economic foundations. At Triton, we aim to provide patient capital and strategic support to help these businesses scale and succeed,” said Dev Raman, Partner, Triton.
The firm said it has a 100 per cent success rate with zero delinquency across its portfolio.