Iron Pillar, a leading investment company that supports Indian digital entrepreneurs, is reportedly raising around $400 million to assist enhance the country’s startup ecosystem, according to media reports on Monday.
Iron Pillar provides growth finance to Indian entrepreneurs looking to expand globally.
According to insiders, the VC firm is in advanced talks with limited partners (LPs) to raise approximately $400 million in its second fund.
FreshToHome, Uniphore, Curefoods, and other firms are among those in the VC firm’s portfolio.
According to a recent Iron Pillar assessment, India is on track to have more than 250 unicorns by 2025.
Iron Pillar concluded its first $90 million fund in 2018 and later raised $45 million for a follow-on fund.
Allana Group contributed $10 million to its second fund last year.
Sequoia India and Southeast Asia collected $2.85 billion this month across a number of funds, including a $2 billion early-stage, venture, and growth fund for India and a $850 million Southeast Asian fund, to assist creators in taking their businesses from concept to IPO and beyond.
After the United States and China, India has emerged as the world’s third-largest startup ecosystem. There are currently about 100 unicorns in the country.
In 2021, Indian startups raised $42 billion through 1,583 deals, resulting in 42 unicorns.
According to the article, Lightspeed India Partners intends to raise more than $500 million for its current fund, while Matrix Partners India intends to seek $450 million.
