Alpha Wave’s Anirudh Singh joins Avataar Venture Partners as a partner

• ByStartupStory     |    January 10, 2023

Anirudh Singh, a former managing director of Alpha Wave, has been named as the third general partner of Bengaluru-based development stage technology investment firm Avataar Venture Partners. 

In his new position, Singh will concentrate on business-to-business (B2B) investments and overall administration of the venture capital firm.

Singh said on his appointment, “The Indian economy is at an inflection point, at the cusp of an opportunity in the technology ecosystem. Having worked closely with Mohan (Kumar) for more than a decade at Norwest Venture Partners and otherwise, I see an alignment in our vision for Avataar Venture Partners (AVP) as an investment platform as well as a platform to support entrepreneurs operationally.”

Singh concentrated on early- to late-stage investments in India and Southeast Asia during his most recent employment with Alpha Wave. Prior to this, he had positions as an investor at Norwest Venture Partners and as a principal at B Capital Group. 

Singh served on the boards of many firms during his time at Alpha Wave, including Absolute Foods, PolicyBazaar, Groyyo, and Cuemath, according to his LinkedIn profile. He also invests in Spinny, a marketplace for secondhand cars, as an angel. 

The acquisition comes shortly after SaaS-startups” target=” blank”>Avataar Venture Partners launched its first venture capital fund in October of last year with a target corpus of around $350 million. However, according to Mohan Kumar, the fund’s creator and managing partner, the corpus might increase to as much as $400 million.

The fund seeks to invest in 12 to 15 growth-stage businesses using SaaS and B2B business models. A news release claims that the venture capital fund has already begun investing from the new fund and is now assessing businesses that are raising their early growth-stage rounds. 

Amagi, RateGain, Zenoti, Algonomy, and Tech Sense are just a few of the companies in Avataar’s portfolio with ticket sizes between $10 and $50 million. It seeks for businesses having an annual recurring revenue (ARR) of at least $10 million and strives to assist them in scaling to an ARR of between $100 and $150 million.

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