Iron Pillar seeks to raise $400 million to empower Indian tech startups
- ByStartupStory | July 4, 2022
According to news reports on Monday, the nation’s top investment firm Iron Pillar, which supports tech startups in India, is purportedly raising close to $400 million to support the country’s startup ecosystem. For Indian entrepreneurs looking to go global, Iron Pillar offers growth funds.
The VC company is in early discussions with limited partners (LPs) to raise roughly $400 million for its second fund, according to sources cited by Deal Street Asia. The VC firm’s portfolio of startups includes companies like FreshToHome, Uniphore, Curefoods, and others.
India is anticipated to have more than 250 unicorns by 2025, according to a recent research by Iron Pillar. Iron Pillar secured $45 million for a top-up round after closing its initial $90 million fund in 2018. 42 unicorns were created in 2021 as a result of Indian businesses raising $42 billion through 1,583 agreements.
In order to assist founders in taking their businesses from conception to initial public offering (IPO) and beyond, Sequoia India and Southeast Asia raised $2.85 billion last month across a number of funds, including a $2 billion early-stage, venture, and growth fund for India and a $850 million Southeast Asian fund.
After China and the US, India now has the third-largest startup ecosystem globally. There are currently more than 100 unicorns in the nation. 42 unicorns were created in 2021 as a result of Indian businesses raising $42 billion through 1,583 agreements. According to the source, Matrix Partners India hopes to raise $450 million, and Lightspeed India Partners intends to raise over $500 million for its most recent fund.
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