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Stellaris Venture Partners Closes USD 300 Million Fund III to Support Early-Stage Startups

• ByStartupStory     |    November 29, 2024

Bengaluru-based venture capital firm Stellaris Venture Partners has successfully closed its third fund at USD 300 million, marking a significant milestone in its journey. This new fund brings the firm’s total assets under management (AUM) to over USD 600 million and underscores its commitment to nurturing India’s burgeoning startup ecosystem.

The third fund will focus on seed and Series A investments, supporting 25–30 startups over the next three years. It has attracted participation from existing Limited Partners (LPs) as well as new global investors, including university endowments, foundations, pension funds, and prominent funds of funds. Stellaris previously raised USD 225 million for Fund II in August 2021.

Founded in 2017 by Ritesh Banglani, Alok Goyal, and Rahul Chowdhri—former partners at Helion Ventures—Stellaris has invested in 44 startups across its two prior funds. Some notable successes include Mamaearth, which recently went public, and Whatfix, a digital adoption platform that raised USD 125 million in a Series E funding round. The portfolio also features consumer brands like Nestasia and Zouk, alongside fintech platform Kiwi.

Stellaris’ investment strategy emphasizes sectors such as consumer technology, AI, SaaS, and financial services. The firm is also exploring opportunities in B2B commerce, education, mobility, and healthcare.

Speaking about the new fund, Rahul Chowdhri said, “We’re excited to back founders using technology to solve deep problems in large markets. Our team, consisting of former entrepreneurs and business builders, brings deep expertise and global networks in key sectors to support our portfolio companies throughout their journey.”

Ritesh Banglani added, “India’s startup ecosystem has transformed, with a 4x growth in deal flow and an increase in repeat entrepreneurs. Rising investor interest in India can be attributed to factors like public digital infrastructure, smartphone adoption, and a vibrant startup ecosystem.”

In conjunction with the fund announcement, Stellaris unveiled significant updates to its leadership team. Naman Lahoty has been promoted to Partner, Chetan GMS has been named Chief Financial Officer (CFO), and Praseedha Premnath has been elevated to General Counsel. Additionally, the firm welcomed Vardhan Dharnidharka, an AI/ML specialist formerly based in New York, as Principal.

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