Arkam Ventures Launches Fund II with $180 Million Target Corpus to Support Tech Startups

• ByStartupStory     |    June 27, 2023

Early-stage venture capital firm Arkam Ventures has announced the launch of its Fund II, aiming to raise a target corpus of $180 million to back technology-focused startups. In a statement issued by the firm, it revealed plans to tap into top-tier global institutional investors and family offices for investments. Arkam Ventures’ first fund included notable limited partners such as British International Investment, SIDBI, Evolvence, and Quilvest.

Founded in 2020 by Rahul Chandra, former Co-founder and Managing Director at Helion Venture Partners, and Bala Srinivasa, former Partner at Kalaari Capital, Arkam Ventures has been actively investing in startups. In April 2022, the firm announced the final close of its Fund I, which raised $106 million and supported 16 startups across various sectors. Some notable investments from Fund I include fintech startups Jar and KreditBee, food and agritech companies Jai Kisan and Jumbotail, skilling companies Smartstaff and CUSMAT, as well as SaaS startups SpotDraft and Signzy.

Fund II will continue to focus on the “middle India opportunity,” aiming to develop tech solutions for the next 400 million Indians who are benefiting from the ongoing digitization wave. The new fund plans to back a portfolio of 20 startups, both in existing sectors and new sectors like manufacturing technology and electric vehicles.

Rahul Chandra, Managing Director at Arkam Ventures, emphasized the firm’s belief in the untapped potential of the Middle India market and the importance of rapid scale and capital efficiency in the coming decade. He stated, “Arkam’s ‘foundation-first’ approach helps portfolio companies create sustainable businesses with the right governance, organizational design, and go-to-market strategies.”

With the launch of Fund II, Arkam Ventures will provide support to startups in their Series A and Series B stages. Additionally, the firm plans to deploy capital in its strong portfolio companies for follow-on rounds. The fund will also strengthen its portfolio advisory function, focusing on areas such as organizational design, go-to-market strategy, finance, and operations.

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