Kae Capital announces final close of Fund III at Rs 767 Cr

Early-stage VC firm Kae Capital has closed its Fund III at Rs 767 crore. Some of the international institutional investors who have backed this fund are Old Mutual Wealth, Velo Partners, and Finext, while HDFC Holdings and SIDBI are from India. 

Startup founders including Rajesh Yabaji (Blackbuck), Ashish Hemrajani (BookMyShow), Nitish Mittersain (Nazara), Srikanth Velamakanni (Fractal Analytics), Deep Kalra (MakeMyTrip), and Jitendra Gupta (Jupiter), among others are also backing this fund.

Kae is targeting to invest in 25 companies through this fund and will look at sectors like B2B commerce, Consumer tech, SaaS, Fintech, and D2C, the fund said in a release.

Kae Capital is a sector-agnostic fund that invests in pre-seed to pre-Series A stages of a company’s lifecycle with initial cheque sizes ranging between $1 million to $3 million. Its portfolio companies include Tata 1mg, Zetwerk, Porter, Healthkart, Wysa, and Fynd among others. According to Kae Capital, it has invested in 79 startups with a portfolio enterprise valuation of $8.52 billion and has made 14 exits. 

In the past few weeks, several VCs have launched India-focused funds targeting startups across segments. The list includes Transition VC, Indian Angel Network, Yatra Angel Network, Chiratae Ventures, and others.

In the past couple of months, around a dozen venture capital and debt firms have announced their new fund. The list counts Chiratae Ventures, Fundamentum, Stride Ventures, Merak Ventures, Cactus Ventures, Elev8 Venture Partners, StartupXseed, Blacksoil, Kettleborough VC, Fireside, Avatar Ventures, Alteria Capital, and IAN.