New Delhi, April 12 Homegrown VC firm BoldCap on Wednesday announced its second fund with a fresh capital of $25 million, to be invested in 15-20 early-stage startups over the next 24-36 months.
Chennai-based BoldCap, which is among the first Indian VC firms dedicated to global B2B SaaS startups from the country, also showcased its Fund 1 portfolio, which includes startups like Spendflo, TestSigma, Spotdraft, and Locofy.
"Global B2B software companies are being built out of India right now, and a lot of them are founded by product or engineering teams. This is why a go-to-market (GTM) focused early-stage fund, with collective knowledge and industry connections to help them scale quickly will sit perfectly within the existing VC ecosystem in India," said Sathya Nellore, Founder and General Partner- BoldCap.
Sathya previously co-founded a tech company that was backed by developer data platform MongoDB.
The fresh investment came in from global institutions and family offices, according to the VC firm
SaaS companies from India could collectively reach $50-$70 billion in global revenues by 2030, which will be 5-7 per cent of the global market share.
"We believe Indian entrepreneurs are thinking bolder and global and we are going to see a lot more SaaS companies for the world being built from India," said Nellore.
According to Tracxn and SaaSBoomi, Indian SaaS companies have received over $4 billion in VC funding over the last 5 years.
BoldCap's Fund I invested in 10 companies, out of which 4 of them have crossed $1 million ARR in less than 15 months.
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