Tenacity Ventures plans $150-M second fund

Mumbai-based venture capital firm Tenacity Ventures , backed by founders of fantasy sports platform Dream11, is gearing up to launch a USD 150 million second fund even as several companies from its debut portfolio move closer to public market listings.Tenacity's new fund comes after the firm announced the final close of its first fund at USD 100 million in March last year to invest in Indian companies. About 80-85% of the first fund has already been deployed across 15 companies.Largely backed by domestic investors, including other startup founders and senior executives, Tenacity plans to increase its average ticket size by 45-50% to INR 60-70 crore in its next fund.