Kae Capital Raises $30 Mn For Its Second Fund

Kae Capital Raises $30 Mn For Its Second Fund

Mumbai-based venture capital firm Kae Capital, which invests in early-stage companies, has raised $30 Mn as part of its second fund from existing and new investors.

The second fund has already been invested in at least five startups. The firm is said to raise an additional $10 Mn.

In October 2015, the VC firm had shared its plans to raise around $40 Mn in its second round of funding.

The VC firm shared details of the spending of its second fund. Let’s have a look:

  • The proceeds will be spent for next three to five years
  • The ticket size of investment will be doubled to be $1 Mn as compared to the previous investments of $500K
  • The follow-on ticket size also increases from $2.5 Mn to $4 Mn going forward
  • 10% of the overall fund will be allocated for non-tech startups such as fast-moving consumer goods companies and manufacturing startups
  • The fund will have an investment cycle of 10 years, which could be extended by two years if required
  • The second fund will be completely dedicated for Indian startups

In March 2012, Kae had raised its maiden $25 Mn from investors which included venture capital firms like Sequoia Capital, SAIF Partners and Omidyar Network; three global fund-of-funds such as Axiom, Squadron Capital and Morgan Creek Capital Management; and a few HNIs such as Manish Kejriwal and Deep Kalra. The firm is said to have exhausted this fund in mid of 2015 and has been warehousing its investments since then. It has invested in over 25 startups in India which count startups like on-demand electronics services startup HandyHome, online fashion portal Myntra, mobile advertising technology startup InMobi, in-store digital technology company Fynd (previously known as Shopsense), peer-to-peer car sales startup Truebil, customer communication startup Nudgespot, online logistics startup The Porter among others.

Recently, Kae backed Sendd, which was acquired by Craftsvilla against which Kae got a small equity in Craftsvilla.

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Inc42 Magazine is an online startup magazine that covers some of the best startups and entrepreneurs in the India ecosystem. We also feature numerous guest posts and resources by leading experts from across the industry, including many from the Silicon Valley and Bay Area.
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