Huddle Ventures’ Fund II Oversubscribed, Eyes ₹150 Cr ($18.7M) for 20 Startups

July 12, 2024: Huddle Ventures, Early stage venture firm revealed its second fund of Rs 100 crore has been oversubscribed, with the final close likely to be accomplished in the next four to six weeks. The VC also opened the green shoe option for its Fund II.

“Our initial target was oversubscribed, and we have activated the green shoe option. The fund is likely to close at a corpus of Rs 150 crore,” Ishaan Khosla, General Partner at Huddle Venture says. The rupee fund that invests in pre-seed and seed-stage startups has seen commitments from domestic family offices and legacy and new-age operators in the ecosystem. The Gurgram based VC has already made six investments from the second fund.

Furthermore its Rs 50 crore Fund I has infused funds in 25 startups, bringing up the total assets under management of the firm to $20 million. The VC firm signs cheques between $500,000 and $1 million, and it’s investment portfolio includes oral care brand Perfora, supply chain company Celsius Logistics, and wellness food brand WellversedHealth, among others.

Huddle Ventures reveals green shoe option for Fund II

“We are sector agnostic and will continue to back startups in the fintech, agri, healthcare, consumer brands and enablers and similar buckets. We are looking to be the first institutional investor in these companies and will lead or co-lead these rounds,” Sanil Sachar, General Partner at Huddle Ventures says. Get connected to Perfora He added that Fund II will deploy capital across 20 startups, with follow-on participation up to the Series A round.

Founded in 2017 by Khosla and Sachar as an accelerator and VC fund, Huddle Ventures works closely with its portfolio companies, helping them with business development and strategy. “We have already clocked three partial exits from Fund I within 36 months,” Khosla said, adding that nearly 65% of the fund’s portfolio had already raised follow-on rounds.

The firm is capping its second fund at Rs 150 crore, and will be investing in about 20 companies across sectors in the next 18 months.

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