Singularity Ventures AMC Achieves Initial Close of Rs 500 Cr Fund II
- ByStartupStory | October 19, 2023
Asset management firm Singularity Ventures AMC has announced the first close of its second fund, the Singularity Growth Opportunities Fund II, at Rs 500 crore. This fund has a total corpus of Rs 1,500 crore.
The fund allocation strategy involves deploying up to 20% of the corpus in growth-stage startups, another 20% for pre-IPO companies, and approximately 40% of the corpus for growth equity investments in companies held for around four years. The Singularity Growth Opportunities Fund II will follow a similar approach, aiming to invest in 14-16 startups with amounts ranging from Rs 75 crore to Rs 175 crore.
Singularity Ventures, led by Madhusudan Kela, focuses on various sectors, including consumer, manufacturing, enterprise software, and financial services. Their previous investments include startups like mCaffeine, Exotel, WebEngage, XYXX, and Lohum Cleantech.
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Their first fund, with a corpus of Rs 560 crore, was launched in 2021 and reached its final close in March of the following year. It invested in 17 companies, including notable names like All-Cargo Logistics and Jana Small Finance Bank.
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