Arkam Ventures targets to raise $180 Mn for Fund II

Early-stage venture capital firm Arkam Ventures has launched its Fund II with a target corpus of $180 million and will continue to focus on areas like financial services, skilling, food, agriculture, healthcare, mobility, and software-as-a-service (SaaS).

Led by Rahul Chandra and Bala Srinivasa, Arkam backs a new generation of founders focused on building tech-led solutions that cater to the middle-class population. The fund has invested in 16 startups including fintech firms such as Jar, and Kreditbee, Jai-Kisan and Jumbotail, skilling companies like Smartstaff and Cusmat as well as SaaS companies like Spotdraft and Signzy.

With Fund II, Arkam expects to deploy more capital and back its founders and companies in follow-on rounds as well. Presently, the aggregate market value of the Arkam portfolio exceeds $2.5 billion.

Arkam’s Fund II is expected to close by the end of the year and will build a portfolio of 20 tech startups. It invests in pre-series A to Series B companies with investments in the range of Rs 10-20 crore ($1.2-$2.5 million).

In April 2022, Arkam Ventures announced the close of its maiden fund at $106 million.