Suvan Ventures set up by B2B Investor Radhesh to back SaaS Startups
- ByStartupStory | March 4, 2022
Radhesh Kanumury, an Industry veteran and former managing partner at Arka Venture Labs, is setting up a new venture fund, Suvan Ventures. The venture focuses on B2B early-stage and Indian cross-border SaaS startups. By making 20-25 investments, the fund size is expected to be $10-15 Mn.
In early-stage startups, Suvan Ventures will identify and invest. It will then help them scale by mentoring, and also by connecting them with investors, partners, subject matter experts, system integrators and potential customers.
A statement states that Suvan Ventures will have development or customer success or marketing teams in India and also be investing in the SaaS startups that sell into global markets such as the US and Europe.
In the previous years, the Indian SaaS ecosystem has been growing rapidly. The country’s SaaS ecosystem is expected to grow rapidly and increase its share of global SaaS to 4-5% from nearly 1% at present, translating to a $50-70 Bn revenue opportunity by CY 2030, shows the Motilal Oswal report.
In a Series B funding round led by Sequoia Capital India lately, SaaS Labs, the Delhi-NCR and Palo Alto-based software startup raised $42 Mn. Along with angel investors Amit Agarwal, Allison Pickens, Anand Chandrasekaran, and Michael Stoppelman, base 10 Partners and Eight Roads Ventures also participated in the round. Similarly, at the same time, Ankit Bhati, the Ola cofounder is going to launch a SaaS venture, reportedly. As a part of its seed funding round, the newly started venture will raise upto $20 Mn from Sequoia Capital.
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