Abyro Capital Floats $25 Mn Fund To Back India, US Startups

India and US-focussed venture capital (VC) firm Abyro Capital has launched its maiden $25 Mn (about INR 210 Cr) fund to back early stage technology startups in the two countries. 

In a statement, the VC firm said that it will look to back 12 to 15 startups, over the course of next four years, across sectors such as artificial intelligence (AI), SaaS, healthcare, manufacturing, supply chain, delivery, among others.

Abyro Capital said that the fund will be driven by operators and entrepreneurs, and will also offer operational expertise and access to global networks to its portfolio startups. 

“We believe highly empowered teams coupled with disciplined, consistent execution trumps everything else. This fund is our commitment to supporting visionary founders with not just capital but the resources, mentorship, and networks they need to achieve global success,” Abyro Capital founder and managing partner Vamsi Kora said. 

Meanwhile, the VC firm has also signed a memorandum of understanding (MoU) with Telangana government-backed incubator T-Hub to offer funding, mentorship and operational support to cross-border startups. 

Commenting on the partnership, T-Hub’s interim CEO Sujit Jagirdar said, “This collaboration with Abyro Capital reflects our shared vision to empower startups tackling transformative challenges. Together, we’re creating a pathway for India’s innovators to lead on the global stage, demonstrating that Indian startups can compete and excel in any market.”

Abyro Capital was founded earlier this year by Kora, who previously cofounded SaaS platform Gathi Analytics, which was acquired by Goldman Sachs-backed Apexon in 2021. 

The VC firm will look to back emerging tech startups across India and the US. It claims to have backed two startups so far – ecommerce enablement platform Reva Commerce and online recruitment venture HComb.

The development comes at a time when the Indian investor ecosystem is witnessing healthy activity. As the funding winter wanes and startups turn their focus back to profitability, India-focussed VC and private equity (PE) firms are raising big bucks from limited partners to back homegrown new-age tech ventures. 

Just last month, Stellaris Venture Partners marked the final close of its third India-focused fund at $300 Mn. In the same month, former World Bank executive Sayan Ghosh announced a new INR 300 Cr fund, Ortella Global Capital, to co-build startups alongside founders.

Pavestone VC also recently marked the final close of its Pavestone Technology Fund at INR 816 Cr, while Green Frontier floated an INR 1,500 Cr fund to back climate tech startups.