Indian VC firm Venture Highway plans to raise $60m new fund – Report

Photographer: Dhiraj Singh/Bloomberg

Venture capital firm Venture Highway is reportedly looking to raise about $50-60 million for a new fund, according to a report in The Economic Times quoting sources.

“They have been able to raise capital from a few large investors and have managed get about half of the capital they are targeting,” said one of the sources quoted in the report.

An email sent to Venture Highway did not elicit a response till the time of publishing.

Founded by former Google executive Samir Sood, the Delhi-based company has invested in around 18 companies so far, including vernacular social network Sharechat, reseller network Meesho, research firm Tracxn, and bot prevention firm ShieldSquare, according to its website.

One of the sources cited in the news report said that Venture Highway’s strategy will be to invest in early-stage startups in the country, especially at the seed and Series A stages.

While early-stage investments in the country have tapered over the last one year, venture capital firms are still piling up the dry powder.

Recently Delhi-based early-stage investor WaterBridge Ventures reached the final close of its maiden venture capital fund at $30 million. Prior to that, Bengaluru-based venture capital firm 3one4 Capital closed its second fund with commitments for $39 million while pi Ventures marked the second close of its $30-million maiden fund at $25 million.

Also Read:

India: 1Crowd marks first close of its maiden venture fund at $3.5m

India: WaterBridge Ventures closes maiden VC fund at $30m

Indian VC 3one4 Capital raises $39m for second fund, exceeds initial target

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.