Infosys co-founders roll out Rs 200 crore seed fund for startups
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BENGALURU: Early-stage VC financier Axilor Ventures has launched a Rs 200-crore seed fund. Called Axilor Technology Fund, it will invest in fledgling startups looking for pre-seed or seed money in areas that include enterprise, deep tech, artificial intelligence (AI), consumer, fintech and healthcare.
The fund is backed by Infosys co-founders S D Shibulal and Kris Gopalakrishnan, former Infosys board member Srinath Batni, and Tarun Khanna — the Jorge Paulo Lemann Professor at Harvard Business School. “There has been some weakness in the series-A funding pipeline. 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.
Ganapathy Venugopal, co-founder and CEO of Axilor Ventures, said, “As most founders would vouch, in the 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.”
Earlier, Axilor Venture said that it was focused on investments with an average ticket size of Rs 1-2 crore, but the new fund will invest up to Rs 3 crore. About 50% 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.
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