Ex-Citgroup exec’s VC firm launches maiden India fund

TrueScale Capital, a new venture firm, has announced the launch of its maiden fund to invest in consumer and enterprise technology companies built out of India.

Sameer Nath, managing partner at TrueScale Capital / Photo credit: TrueScale Capital

The new fund will focus on companies that require funding in the series B and C stages.

The investment firm is spearheaded by Sameer Nath who is the co-founder of Iron Pillar, an India-focused fund. He previously worked as the managing director of Citigroup, leading alternative assets and industrial banking in Southeast Asia. He was also a consultant with Deloitte for three years between 1996 and 1999.

A number of employees from Iron Pillar have joined TrueScale Capital, such as the company’s chief financial officer, a financial controller, and an associate.

“It is the right time to launch our investment firm considering that Iron Pillar India Fund I is almost fully deployed and that this is an opportune juncture to invest in India technology,” said Nath.

TrueScale plans to partner with founders who demonstrate revenue growth in large target markets in a capital-efficient manner and with leading early-stage investors.

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The company has also lined up a seasoned advisory council comprising of micro venture capitalist Vaibhav Domkundwar, Wall Street veteran Ben Druskin, and senior technology investment banker Harish Hulyalkar.

Earlier in October 2020, the Iron Pillar Fund backed India-based ecommerce platform FreshToHome, which delivers fish and meat products to customers.