Rockstud Capital eyes $36.5m for Fund II to tap India's consumption theme

Rockstud Capital eyes $36.5m for Fund II to tap India's consumption theme

Rockstud Capital is targeting to raise about Rs 300 crore ($36.5 million) for its second investment vehicle as it looks to invest in the youth-focused consumption theme in India and tap startups at a pre-Series A stage.

The fund, which received a licence from the Indian capital markets regulator last month, will predominantly invest in 25 startups with a ticket size ranging from Rs 1 crore to Rs 10 crore, Abhishek Agarwal, founder and managing partner, Rockstud Capital, told DealStreetAsia.

Rockstud launched its first fund in 2018, which had a unique strategy of investing in startups at a pre-series A stage and in listed equities traded on the NSE in India.

It invested in 10 startups from the first Fund. Some of the portfolio companies include Everest Fleet (CNG & EV focused fleets), BigHaat (agritech), Lilac Insights (niche diagnostics), and NOTO (low-calorie healthy ice cream brand), among others.

“Currently, there is a lot of rationality in the ecosystem over growth projections and valuations. business models have gone through multiple cycles of course correction. It is a great time to pick winners who survived all the above,” said Agarwal.

Edited excerpts of the interview:

Edited by: Padma Priya

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