Upekkha’s SaaS-focused UP Funds received $9 million from WestBridge
- ByStartupStory | February 25, 2022
Upekkha Value SaaS Accelerator, a US-based AngelList-style early-stage investment organization, has secured $9 million from WestBridge Capital for its rolling fund, which will aim to invest in about 50-60 firms this fiscal year. This is the first alternative investment fund (AIF) of its sort in India.
In a rolling fund, the investor will invest in businesses that use a revenue-based financing approach rather than a debt-based financing model. In January 2021, a software as a service (Saas)-focused investing business was launched. It usually invests between $100,000 and $200,000 in businesses.
In 2021, it supported roughly ten startups and also invested in one of its portfolio firms’ Series A round.
Upekkha, which was formed by Prasanna Krishnamoorthy, Shekar Nair, and Thiyagarajan Maruthavanan, has accelerated 72 businesses in four years, with seven of the first ten profitable.
UP Funds, which began operations in January 2021, assists SaaS startups in overcoming early-stage constraints by providing founder-friendly capital that safeguards their future alternatives. UP Funds funded $100,000-$200,000 in ten firms in 2021, as well as participating in one of its high-growth startups’ Series A investment.
UP Funds will invest in 60 entrepreneurs this year through three cohorts of the Upekkha accelerator program.
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