India-based Kae Capital has raised about US$96 million for its third fund from investors such as Old Mutual Wealth, Velo Partners, and Finext.
The early-stage VC firm also saw backing from executives at MakeMyTrip, Blackbuck, Hero Enterprise, and Nazara, among others.
The Kae Capital team / Photo credit: Kae Capital
Through its newest fund, Kae Capital is looking to back companies in the B2B commerce, consumer tech, SaaS, fintech, and direct-to-consumer sectors.
The firm has been investing in India since 2012, mostly focusing on pre-seed to pre-series A companies. It typically writes checks of US$1 million to US$3 million.
Kae Capital has backed 79 startups, with a portfolio enterprise valuation of US$8.52 billion. Some of its notable investments include those in Tata 1MG, Zetwerk, Porter, and Wysa.
See also: These are the most active investors in India’s startups
“Our commitment to being a founder-first firm has remained consistent from the start, despite changing market conditions. We focus on backing the best founders that are also, importantly, good human beings,” said Sasha Mirchandani, Kae Capial’s founder and managing partner.
Some of the company’s most recent deals include leading the US$1.5 million round of Bold Finance and the US$1.1 million pre-seed raise of edtech platform Supernova.
Editing by Eileen C. Ang
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