Domestic Micro VC Fund: Speciale Invest raises Rs 286 crore in its second fund

• ByStartupStory     |    April 6, 2022

The domestic micro VC fund which specialises in investments into deep tech and SaaS startups, Speciale Invest, raised Rs 286 crore in the final closure for its second fund, much beyond the initial target of Rs 100 crore.

The launch of its second fund raising Rs 140 crore has been announced by Speciale Invest in April 2021. The first fund of this VC firm, which was founded in 2017, was of worth Rs 60 crore in size and at the seed and pre-seed stages it had made 18 investments.

For making follow on rounds into its existing portfolio of startup investments Speciale Invest will utilise the second fund while a majority of the investments will be into new startups, given the participation of investors in this fund. From the second fund spread over four to five years, it expects to make around 20-22 new investments.

Speciale Invest has backed startups such as Agnikul, GalaxEye Space, Wingman, StreamAlive, The ePlane Company, CynLr, QNu Labs, Airboxr, Trainn, Uravu Labs among others. According to Vishesh they have had three exits and to raise their next round of funding was managed by a couple of them.

In the second fund of Speciale Invest the investors are predominantly from India.

Speciale Invest typically invests Around $0.5 millionhas been typically invested by Speciale Invest in each startup and even with the second fund this funding amount is expected to be in the same range. It is focused on investing in start-ups building enterprise software products including Developers tools and frontier technologies, SAAS including climate, photonics, advanced materials, space tech, robotics, and alternative energy, to name a few.

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