Fund News
Early-stage investor Stellaris Venture Partners closes third fund at $300-M
Venture capital firm Stellaris Venture Partners has closed its third India-dedicated fund at USD 300 million. A backer of direct-to-consumer personal care brand Mamaearth and software-as-a-service (SaaS) platform Whatfix, Stellaris plans to use the capital to invest in 25-30 startups across consumer technology, enterprise software, artificial intelligence and financial services sectors.While Stellaris’ first fund raised a large share of its capital from domestic sources, the latest fund’s corpus mainly has commitments in US dollar-denominated capital. The sponsors include university endowments, foundations, pension funds, and funds of funds.Founded in 2017 by three former Helion Venture Partners executives Ritesh Banglani, Alok Goyal and Rahul Chowdhri, Stellaris’ first fund was pegged at USD 90 million with the second fund seeing a sharp increase to USD 225 million.
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