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: