WaterBridge Ventures, which has invested in Unacademy, Atlan, Magicpin, Bijnis and CityMall, has marked the final close of its second fund at $150 million, said Manish Kheterpal, managing partner at the early-stage venture capital firm.
The second fund seeks to invest $500,000 to $3 million each in 25 startups across seed and Series A rounds. It will also reserve capital for follow-on investments in best-performing companies. The fund has made 10 bets already, Kheterpal said. WaterBridge has more than $250 million in assets under management, he added.