Fund News
Golden Sparrow Ventures announces first close of $20-M Fund II
Golden Sparrow Ventures , which invests in the early-stage deeptech sector in India, has marked the first close of its USD 20 million (INR 180.8 crore) Fund II. Over half of the fund has already been committed, with more than 60% of its Fund I limited partners participating in the current fundraise.Founded in 2023 by Rishaad Currimjee, the firm plans to invest in about 22 Indian startups at the pre-seed and seed stages, with an average cheque size of USD 650,000. The fund will allocate 50% of its capital to deeptech startups and the remaining 50% to enterprise AI ventures.Additionally, about 12% of the corpus has been set aside for follow-on investments in portfolio companies demonstrating early traction. The firm has already made its initial investment from this fund in an undisclosed enterprise data platform.This fund follows Golden Sparrow Ventures’ USD 8 million maiden fund. Between 2023 and 2025, the firm invested in 18 deeptech startups, including Ethereal, Theranautilus, and Morphing Machines.
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