Early stage venture capital firm Venture Highway on Thursday said it has raised $78.6 million for its second fund focused on technology seed investments in India. The fresh raise will be used for new investments in 30 early-stage companies over the life of this fund.
Backed by iconic investors from Silicon Valley, the average cheque size for this fund is expected to be $1 million.
“We are extremely passionate about helping advise technology entrepreneurs build their businesses with our local and global networks,” said Samir Sood, Founder, Venture Highway.
Sood, who is a former top Google executive, founded the Delhi-headquartered fund with Neeraj Arora, former Global Business Head at WhatsApp, in 2015.
With portfolio companies such as Meesho, Sharechat, Moglix, and Cars24, the early-stage investment firm has so far invested in 20 start-ups.
“Our goal is to give back to our country’s early-stage ecosystem and we continue to be extremely excited about the quality of the current generation of entrepreneurs building large businesses out of India,” said Sood.
Source: Business-Standard