November 29, 2024: Stellaris Venture Partners an Early-stage, technology-focused, sector-agnostic investment firm has announced the close of its Fund III at $300 million. Over a period of three years the new fund aims to lead seed and Series A investments across 25 to 30 startups. The new inflow of capital brings Stellaris’ total assets under managed (AUM) to more than $600 million.
Founded in 2017 by Alok Goyal, Rahul Chowdhri and Ritesh Banglani, Stellaris has backed 44 startups across two funds. It was an early investor in consumer brand Mamaearth, as well as Digital Adoption Platform (DAP) player Whatfix. It is also an investor in consumer brand Nestasia, bags and accessories brand Zouk, credit-on-UPI platform Kiwi, among others.
Stellaris Ventures Partners will maintain its focus on key sectors to align with its investment thesis encompassing consumer tech, AI, SaaS and financial services, according to a statement shared by the firm.
Stellaris Venture Partners Witness 4x Growth in Deal Flows
“India’s startup ecosystem has transformed since we started our fund, with a 4x growth in the deal flow and a rise in repeat entrepreneurs and founders from successful startups. With this new fund, we’re excited to back founders using technology to solve deep problems in large markets,” Rahul Chowdhri, Partner at Stellaris Venture Partners, said in the statement.
The Bengaluru based early stage funding venture firm has backed startups in B2B commerce, education, mobility and healthcare sectors. As part of its growth strategy, Stellaris Ventures has announced key leadership changes, with Naman Lahoty being appointed as Partner.
Chetan GMS, was previously the Senior Vice President at Stellaris Venture, who moves up the ladder of leadership as the firm’s new CFO appointee, while Praseedha Premnath was elevated to the role of General Counsel at the firm.
Further, the VC on-boarded Vardhan Dharnidharka as Principal to join the firm. Ritesh Banglani, Partner at Stellaris Venture, expressed that investor interest in India is a result of the continued growth momentum in the market and the scale it offers.
“A combination of unique public digital infrastructure, a young population, mass adoption of smartphones and receptivity of public markets to technology startups makes India an attractive destination for venture capital,” Banglani added.
The latest round of funding for Stellaris Venture had participation from existing Limited Partners (LPs) as well as new commitments from global investors including university endowments, foundations, pension funds and reputed fund of funds. Stellaris had last raised $225 million as part of Fund II in August, 2021.
