Asset management firm Rockstud Capital on Monday launched a Rs 300 Cr ($36.4 Mn) second fund (Rockstud Capital Investment Fund II) to back pre-Series A and Series A-stage startups.
The INR 300 Cr ($36.4 Mn) fund will back pre-Series A and Series A stage Indian startups.
The fund will invest between Rs1 crore and Rs 10 crore in startups in the digitalisation, sustainability, financial inclusion, consumption, and health sectors.
The fund will facilitate companies in building an initial product-market fit, attaining scalability and raising Series A round.
Founded in 2017 by Agarwal, Rockstud Capital is an alternative asset management firm that focuses on Indian companies via SEBI-regulated products. Some of its portfolio companies are Everest Fleet, BigHaat, Instoried, Smartvizx, Fabheads, and NOTO.
In 2018, it rolled out its first fund (Rockstud Capital Investment Fund–Series I), which invested in Pre-Series A stage startups and NSE-listed equities.
The development comes at a time when several institutional investors such as venture capital and private equity firms are setting up or closing their funds to back India’s troubled startup ecosystem.