Iron Pillar Closes $129 Mn Fund To Back SaaS Startups

Capria Ventures Marks First Close Of $100 Mn Fund, To Invest In Generative AI & Climat-Focused Startups

SUMMARY

The fund will primarily focus on startups that are transforming the cloud ecosystem globally, with a strong emphasis on SaaS and cloud infrastructure

The fund saw participation from new investors, along with existing investors from the US, Europe and the Middle East

Some of the portfolio companies backed by Iron Pillar are Uniphore, Servify, FreshToHome, BlueStone, Skill-Lync and Curefoods

Venture capital firm Iron Pillar has announced that it has closed a $129 Mn fund, which will invest in Series B and Series C stage SaaS startups operating in India. The fund is part of ‘Iron Pillar Fund II series’ of funds.

The fund saw participation from new investors, along with existing investors from the US, Europe and the Middle East.

The fund will primarily focus on startups that are transforming the cloud ecosystem globally, with a strong emphasis on SaaS and cloud infrastructure across key investment themes such as cyber security and governance, DevOps tools, and the future of work, education and automation.

Founded in 2016, Iron Pillar offers growth capital and assistance to enterprisetech and consumertech startups to expand globally. It mainly leads Series B and C funding rounds and later doubles down on the breakout businesses with 5X to 10X of its initial investment.

“We are thrilled to have raised the first-ever growth-stage fund with a dedicated focus on investing in global cloud software companies from India. The global cloud opportunity is growing at an unprecedented pace, and we believe that Indian founders will continue to build some generational businesses in this space,” said Anand Prasanna, the managing partner of Iron Pillar.

The VC firm also offers an extensive global network, providing access to potential customers, strategic partners, C-suite tech executives and additional sources of capital to its customers.

Some of the portfolio companies backed by Iron Pillar are Uniphore, Servify, FreshToHome, BlueStone, Skill-Lync and Curefoods.

“We are proud of the growth and success of our portfolio companies and are looking forward to supporting more such companies in their growth journey. The cloud ecosystem is rapidly evolving, and we are confident in our ability to help entrepreneurs create market-leading companies in India and around the world,” said Mohanjit Jolly, partner, Iron Pillar.

The VC firm claims to be managing $500 Mn in assets under management (AUM).