<article>Early-stage investment firm <a href="http://dealstreetasia.com/tag/advantedge" target="_blank" rel="noopener">AdvantEdge Partners</a> has roped in two family offices led by Laksh Vaaman Sehgal and Abhimanyu Munjal-scions of two prominent Indian business houses, as anchor investors in its Rs 300-crore second fund.
According to <a href="https://tech.economictimes.indiatimes.com/news/startups/sehgal-munjal-scions-put-rs-100-cr-in-advantedge-founders-fund-ii/67616324" target="_blank" rel="noopener">a report</a> in The Economic Times, Sehgal, vice-chairman of Samvardhana Motherson Group, and Munjal, joint managing director of Hero FinCorp, have together put in Rs 100 crore in AdvantEdge Founders Fund-II.</article>

Early-stage investment firm <a href="http://dealstreetasia.com/tag/advantedge" target="_blank" rel="noopener">AdvantEdge Partners</a> has roped in two family offices led by Laksh Vaaman Sehgal and Abhimanyu Munjal-scions of two prominent Indian business houses, as anchor investors in its Rs 300-crore second fund.
According to <a href="https://tech.economictimes.indiatimes.com/news/startups/sehgal-munjal-scions-put-rs-100-cr-in-advantedge-founders-fund-ii/67616324" target="_blank" rel="noopener">a report</a> in The Economic Times, Sehgal, vice-chairman of Samvardhana Motherson Group, and Munjal, joint managing director of Hero FinCorp, have together put in Rs 100 crore in AdvantEdge Founders Fund-II.
Founded by Kunal Khattar, Noida-based AdvantEdge is an early-stage tech fund investing across consumer sectors with a focus on mobility. Through its third fund, the investment firm plans to put in Rs 1-3 crore in portfolio companies, with a view to invest to Rs 25 crore over the lifecycle of its investment.
Khattar also co-founded multi-brand auto sales and service network Carnation Auto India Pvt Ltd, which was started by his father Jagdish Khattar, former chief of Maruti Suzuki. Last month it was reported that vehicle service company Mahindra First Choice Serviced has acquired branding rights and some assets of Carnation Auto.
AdvantEdge&#8217;s latest fund, which has received hard capital commitments of over Rs 100 crore, is targeting a first close by March later this year, AdvantEdge managing director Kunal Khattar told the news paper.
&#8220;We have been extremely successful in recognising the opportunities in shared mobility early in Fund I, resulting in all our mobility portfolio companies not only delivering over 80% IRR, but also becoming market leaders,&#8221; Khattar said. &#8220;In Fund II, we want to continue with that successful strategy but with an expanded scope by including digital, logistics and smart cars.&#8221;
The new fund comes about three years after AdvantEdge launched its maiden fund, through which it had invested in around 18 companies, of which it has exited three of its investments, according to the official website. Its investments include app-based bus aggregator Shuttl, bike taxi app Rapido, bus tracking app Chalo, and digital media company ScoopWhoop.
A number of India-focused venture capital firms have reached major milestones in their fundraising efforts recently, led by Sequoia Capital India which closed its sixth fund at $695 million targeting early- and growth-stage investments across India and Southeast Asia (SEA).
Another early-stage investor, Endiya Partners, is reportedly raising a Rs 500-crore ($68.5 million) fund while impact investor Aavishkaar is out to raise $300 million. Quadria-backed HealthQuad is also in the market to raise $100 million.
Most recently, another early-stage venture capital fund, 021 Capital, was said to have reached the first close of its maiden fund at around $32 million, while Matrix Partners announced the closure of its third fund at over $300 million.
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India: AdvantEdge gets $14m anchor investment for $42m second fund

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