Good Capital launches $30 Mn II fund to back AI Startups

Good Capital, an early-stage venture capital firm that has backed some of India’s leading startups including Meesho, Orange Health, and LEAD School, has announced the final close of its second fund at $30 million (approx. Rs 260 crore).

The new fund, launched in 2023 with a target corpus of $35 million, has secured commitments largely from family offices across Asia and Europe. With this close, Good Capital aims to double down on its strategy of supporting new-age, technology-first startups, with a particular focus on artificial intelligence–driven companies.

Startups backed through Fund 2.0 include Rio, which is reimagining access to healthcare with instant pharmacy delivery via WhatsApp; MyGenie, which automates fit-out execution with AI; Xhipment, a digital freight forwarding platform simplifying global trade for exporters; Xneeti, helping Indian sellers scale internationally with tech-first export tools and Nuuk, a homegrown consumer appliances brand known for minimalist, eco-conscious design.

“With Fund 2.0, we doubled down on high-conviction founders solving hard, real-world problems with clarity, intent, and deep insight into user behavior. This phase has reinforced our belief that India’s next wave of breakout companies will emerge at the intersection of AI, infrastructure, and global ambition,” said  Arjun Malhotra, General Partner at Good Capital. 

Founded in 2019, Good Capital is an early-stage venture capital firm focused on investing in seed to early-stage startups that are shaping the future of technology and consumer experiences. The VC firm launched its maiden $15 million fund in 2019 but deployed around $44 million (including LP co-investments) across 30 startups.