Axilor Ventures, an early-stage VC financier has launched Rs. 200-crore seed fund, known as Axilor Technology Fund. It will invest in upcoming startups who are looking for pre-seed or seed money in areas that include enterprise, artificial intelligence (AI), deep tech, consumer, fintech and healthcare.
Ganapathy Venugopal, co-founder and CEO of Axilor Ventures, said, As most founders would vouch, in early stages, capital is not the only requirement, not even the primary one. A seed fund should be able to add value beyond capital. At Axilor, we have built the network that offers access to customers, investors and an active founder community.
The fund is backed by Infosys co-founders S D Shibulal and Kris Gopalakrishnan, former Infosys board member Srinath Batni and Tarun Khanna. The fund is aimed at filling this gap and funding high-quality startups. Said Gopalakrishnan. The fund plans to invest in seven to eight startups this year.
Axilor Venture said that the new fund will invest up to Rs. 3 crore. Above 50 percent of the new fund will be deployed for seed stage investments, while the rest will be used for series A and pre-series-A funding.