Golden Sparrow Launches $8 Million Fund to Invest in Indian AI and SaaS Startups
- ByStartupStory | June 24, 2023
Golden Sparrow, a US-domiciled micro venture capital firm, has launched a separate fund to invest in AI and software-as-a-service (SaaS) startups in India.
The fund, which has raised $6 million in its first close, is expected to reach a final size of $8 million. It will invest in early-stage startups that are building innovative solutions in the AI and SaaS space.
“India will be the birthplace of category-defining companies in AI and SaaS, which are the primary focus areas of our fund,” said Rishaad Currimjee, General Partner at Golden Sparrow.
Golden Sparrow has already made its first investment in Sentra.world, a SaaS startup that is focused on the environmental, social, and governance (ESG) segment. The firm is also in the process of evaluating a number of other promising AI and SaaS startups in India.
Golden Sparrow is one of a number of VC firms that have recently launched India-focused funds. Other recent entrants include Sequoia Capital India, Tiger Global Management, and Accel Partners.
The launch of these new funds is a sign of the growing interest in the Indian startup ecosystem. India is home to a large and growing pool of tech talent, and the country is becoming a more attractive destination for VC investment.
As the Indian startup ecosystem continues to grow, Golden Sparrow is well-positioned to play a leading role. The firm has a strong track record of investing in early-stage startups, and it has a deep understanding of the Indian market.
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