Rockstud Capital Achieves First Close of Second AIF, Secures INR 68 Cr in Initial Funding
- ByStartupStory | March 1, 2024
Rockstud Capital, the innovative asset management firm, has successfully marked the first close of its second Alternative Investment Fund (AIF) at an impressive INR 68 Cr ($8.2 Mn). With an ambitious target corpus of INR 300 Cr ($36 Mn), the Rockstud Capital Investment Fund II is poised to support companies in their bridge rounds, facilitate product scaling, and attract capital from institutional investors.
Abhishek Agarwal, the founder of Rockstud Capital, expressed the fund’s mission, stating, “Our focus is on empowering startups in key sectors such as digitalization, sustainability, financial inclusion, health & safety, and consumption.” The fund strategically invests between $0.5 and $1 Mn during startups’ Pre-Series A rounds.
This milestone follows the 2018 launch of Rockstud Capital’s inaugural fund, Rockstud Capital Investment Fund–Series I, which targeted Pre-Series A stage startups and NSE-listed equities. Notably, the recent development comes on the heels of Rockstud Capital’s partial exit from the Uber-backed Everest Fleet, where a 50% stake sale valued the startup at INR 1,600 Cr (approximately $192.23 Mn).
Rockstud Capital’s diverse portfolio includes notable companies such as Everest Fleet, BigHaat, Instoried, Smartvizx, Fabheads, and NOTO. Founded in 2017, the firm distinguishes itself as an alternative asset management player with a keen focus on Indian companies through SEBI-regulated products.
The fundraising success of Rockstud Capital aligns with the broader trend of institutional investors bolstering India’s startup ecosystem. In parallel developments, Aroa Venture Partners introduced the Aroa Opportunities Fund, targeting a corpus of INR 400 Cr ($50 Mn). Meanwhile, Cactus Venture Partners concluded the final close of its maiden early-stage fund at INR 630 Cr ($75.8 Mn), and Orient Growth Ventures sealed its second India and Southeast Asia (SEA) fund at an impressive $90 Mn.
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